Matthew Sigel, Head of Digital Asset Research at VanEck, has projected that Bitcoin reserve bills currently being considered in several U.S. states could result in the purchase of around 247,000 BTC, creating an additional $23 billion in buying pressure. If these state-level initiatives are enacted, they could reshape the financial strategies of individual states while significantly impacting Bitcoin’s liquidity and market price.
State Governments Eye Bitcoin for Reserves
Sigel’s analysis, shared on X (formerly Twitter), highlights that 20 states have proposed Bitcoin strategic reserve bills, collectively aiming to buy substantial amounts of Bitcoin. The projected $23 billion in buying pressure would come from state governments allocating funds toward Bitcoin purchases, excluding potential pension fund investments, which could further increase the overall demand for the digital asset.
North Carolina and New Mexico Leading the Charge
North Carolina is among the leaders in pushing for Bitcoin reserves, with House Bill 92 proposing to allocate up to 10% of certain state funds into Bitcoin and other cryptocurrencies. To ensure stability, the bill mandates that any included cryptocurrency must have a market capitalization of at least $750 billion, making Bitcoin the most likely candidate for inclusion.
State Representative Mark Brody expressed that Bitcoin could serve as a hedge against inflation, noting, “With the U.S. dollar facing periods of inflation and devaluation, it is prudent to explore this new breed of assets.”
Meanwhile, New Mexico has also shown interest, with Senator Anthony Thornton introducing the “Strategic Bitcoin Reserve Act,” which could authorize the state to invest up to $2 billion in Bitcoin.
Federal-Level Interest and Potential National Crypto Stockpile
As state-level proposals gain momentum, the Trump administration has begun exploring the idea of a national cryptocurrency reserve. An executive order issued last month created a working group to assess the feasibility of a federal Bitcoin stockpile. Although no details have been released about the structure of a national reserve, the growing interest among states suggests that Bitcoin is increasingly being seen as a long-term store of value.
The Trump family project, World Liberty Financial, has also launched its Macro Strategy reserve, further reflecting the importance of cryptocurrency to public funds.
Bitcoin Price Predictions and Market Trends
Analysts are closely monitoring Bitcoin’s price movements, noting that its previous peaks occurred every four years, with highs in November 2021, December 2017, and November 2013. Following this trend, many expect the next peak to occur between November and December 2025.
According to some experts, Bitcoin’s long-term price trajectory is following an exponential growth pattern, with potential price peaks ranging from $190,000 to $290,000 by 2025. Despite short-term fluctuations, analysts remain confident that Bitcoin will continue to follow its historical patterns and emerge stronger with the growing state-level interest in strategic reserves.
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