Proposed legislation in about 20 U.S. states could lead to significant demand for Bitcoin, with estimates suggesting that state governments might need to purchase approximately 247,000 BTC—translating to roughly $23 billion. This analysis from asset manager VanEck highlights the rising interest in Bitcoin as a reserve asset among state governments and potentially the federal government. In a related effort, former President Donald Trump has initiated discussions on establishing a national Bitcoin reserve. The accumulation of Bitcoin by over 150 companies reinforces the cryptocurrency's perception as an inflation hedge. Furthermore, Trump has indicated interest in broadening the asset investment scope to include other cryptocurrencies. The enactment of the Bitcoin Act is anticipated to have a long-lasting impact on Bitcoin, potentially surpassing the significance of Bitcoin ETF launches in 2024, according to cryptocurrency researchers.

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