21 US States Propose Bills for Bitcoin Reserve Allocation

The movement towards Bitcoin reserves in the US has intensified, with 21 states proposing bills to allocate public funds to BTC.

Key points include:

• Approval of the bills could generate at least $23 billion in Bitcoin demand, according to a VanEck report.
• Proposals suggest a 1%-10% allocation to BTC for reserve diversification.
• Utah and Arizona are leading in bill progression; Utah’s bill is at the second reading stage.
• Bills in Wyoming, Pennsylvania, and North Dakota face obstacles and have stalled.
• The potential national Bitcoin reserve depends on a working group established by President Trump, tasked with developing a legislative framework.
• Market predictions for a national BTC reserve this year show 54% odds on Kalshi and below 40% on Polymarket.

If ratified, these developments could significantly impact BTC demand and market dynamics.