"US State Government Bitcoin Reserve Bill Expected to Attract $23 Billion in Buying Pressure"
Son Min
Summary
- It is expected that the implementation of the US state government's Bitcoin reserve bill will attract approximately $23 billion in buying pressure.
- Matthew Sigel explained that compliance with the bill could generate buying pressure equivalent to 247,000 BTC.
- He mentioned that if more states propose reserve bills, the scale of buying could increase.
An analysis suggests that if the US state government's strategic Bitcoin (BTC) reserve bill is implemented, it could attract $23 billion (approximately 33.534 trillion KRW) in buying pressure.
On the 12th (local time), Matthew Sigel, Head of Digital Asset Research at VanEck, stated on X, "I analyzed 20 Bitcoin strategic reserve bills proposed by states," and "if the bills are implemented, they could generate buying pressure equivalent to $23 billion, or approximately 247,000 BTC."
He further noted, "This amount excludes pension fund investments," and added, "If more states propose reserve bills in the future, the scale of buying could increase further."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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