Bitcoin Reserves bills in US Rise will be a game changer, be prepared 📈
#donaldtrump presidency brought warmed up sentiment toward BTC. At #Polymarket the odds of Trump creating a Strategic Bitcoin Reserve during his first 100 days in office jumped to 38% today the Pennsylvania Bitcoin Strategic Reserve Act was introduced, while Satoshi Action Fund advocacy group is also speaking with 10 other states about similar legislation. 🏦
Pennsylvania’s Strategic Reserve bill aims to allow the state to invest up to 10% of certain funds into bitcoin. According to the state’s 2023 Treasury Annual Investment Report, these funds manage approximately $51 billion in assets combined, so an allocation of 10% would represent an estimated $5.1 billion investment in bitcoin.💰
Similarly, the BITCOIN Act introduced by Senator Cynthia Lummis, proposes that the U.S. creates a Strategic Bitcoin Reserve by purchasing bitcoin up to 200,000 BTC for five years, for a total of 1,000,000 BTC, as well as keeping BTC that have been seized (+$6.4 billion worth no longer hit the market + $18.2 billion bid every 12 months for five years straight).
So Including Pennsylvania, $23.3 billion worth of bitcoin being purchased in the open market, ~256,000 BTC (almost an entire month’s worth of bitcoin trading volume at Coinbase).📊
This would significantly impact supply and demand dynamics, and ultimately — the price of bitcoin.
Beyond the market impact, the approval of any of the two bills would have major ramifications for other sovereign portfolios, accelerating conversations about bitcoin allocations among the largest asset managers in the world. 🗝️
There will be only 21 million Bitcoin units for 8,2 billion people in this world, have you already guaranteed yours?