20 US States Considering Buying Bitcoin, with a Potential of $23 Billion and Approximately 247,000 BTC Accumulated, According to VanEck
The growing interest of US states in Bitcoin could lead to massive demand for BTC, estimated at $23 billion, according to an analysis by VanEck. The asset manager’s study identified 20 bills aimed at establishing strategic Bitcoin reserves at the state level. If these initiatives were adopted, local governments would collectively purchase around 247,000 BTC.
VanEck’s estimate remains cautious as some jurisdictions have not yet specified the amounts they would allocate to these reserves. Furthermore, the analysis does not include the potential impact of public pension funds, which, if they added Bitcoin to their allocations, could drive the demand well beyond this figure.
Government Adoption Accelerating
The appeal of Bitcoin as a reserve asset now extends beyond state initiatives. The US federal administration, under the leadership of Donald Trump, is actively exploring the possibility of creating a national Bitcoin reserve. This decision would mark a decisive turning point in the institutional recognition of the cryptocurrency and strengthen its position in the global financial system.
Meanwhile, the accumulation of BTC by businesses is intensifying. According to BitcoinTreasuries.NET, over 150 companies now hold Bitcoin on their balance sheets, considering the asset as an effective hedge against inflation.
Towards a Bitcoin Sovereign Wealth Fund in the United States?
The federal initiative could go even further. In February, Donald Trump ordered the creation of a sovereign wealth fund, a financial vehicle that could potentially be used to acquire BTC. Analysts even suggest that this fund could expand to other cryptocurrencies like Solana and XRP.
The growth of Bitcoin reserves in the United States could thus surpass the impact of Bitcoin ETFs launched in 2024. According to CoinShares, the adoption of a national legislative framework around Bitcoin would have far deeper consequences on the ecosystem than simply opening traditional markets to ETFs.
An Uncertain Yet Increasingly Credible Scenario
The future of these initiatives will depend on upcoming political decisions. The prediction platform Polymarket estimates a 12% chance of Trump implementing a national Bitcoin reserve before his 101st day as president. If these predictions come true, it would mark a historic turning point for the cryptocurrency, further solidifying its status as a store of value and integration into the US economy.
