US eyes Bitcoin: $23 billion strategic reserve under discussion

• • US Bitcoin Strategic Reserve.
  • Pioneer American States.
  • Legislation in progress.

In a move that could revolutionize the Bitcoin market, several US states are considering creating a strategic reserve for the cryptocurrency. Led by global investment manager VanEck, the proposal aims to diversify state portfolios, as well as protect against inflation and the devaluation of the dollar. If approved, the initiative could allocate up to US$23 billion to the purchase de Bitcoin , equivalent to 247 thousand BTC.

The idea of ​​a strategic Bitcoin reserve has been gaining traction in several US states. Arizona, Utah and Illinois are pioneers in this discussion. The Arizona State Senate Finance Committee, for example, recently approved the “Strategic Reserve Bitcoin Act,” a bill that allows the state to invest up to 10% of its public funds in digital assets, including Bitcoin.

In Utah, the Blockchain and Digital Innovation Amendments bill also advanced, receiving committee approval and awaiting a vote in the House. Illinois also introduced legislation to create a Bitcoin fund that would be administered by the state treasurer, with a minimum five-year holding period for any BTC that is acquired.

It is worth remembering that the financial landscape of the United States is undergoing a remarkable transformation, with 15 states exploring actively creating strategic Bitcoin reserves. This groundbreaking initiative, which includes states such as Alabama, Arizona, and Florida, signals a paradigm shift in how state governments view cryptocurrencies and their potential role in the economy.

The potential approval of a Bitcoin strategic reserve by several US states could have a significant impact on the market for the largest cryptocurrency. The combined investment of billions of dollars could boost demand for the asset, which could consequently lead to a surge in its price, taking BTC to new heights.

The proposal for a strategic Bitcoin reserve by US states represents an important milestone in the adoption of the cryptocurrency. If implemented, the initiative could cement Bitcoin as a reserve asset, strengthening its position in the global financial market.