States may create Bitcoin reserves before federal government, increasing adoption
From Cointelegraph
February 28, 2025 4:16:37 pm:
Senator Cynthia Lummis predicts states will create Bitcoin reserves before the US federal government. In July 2024, she proposed the BITCOIN Act, requiring the US to accumulate 1 million BTC. Currently, 18 states have crypto reserve bills pending Senate votes. Trump signed an executive order to study a national Bitcoin stockpile in January.
Lummis suggests that some sovereign wealth funds worldwide could buy BTC. Despite rejection in some states, others view crypto as a bipartisan issue. Establishing a US Bitcoin reserve could boost adoption more than ETF launches in 2024. US-based Bitcoin ETFs launched in January 2024 hold over $100 billion in BTC.
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