Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Analysis: The momentum of the U.S. strategic Bitcoin reserve is penetrating to the state level

Analysis: The momentum of the U.S. strategic Bitcoin reserve is penetrating to the state level

Bitget2024/12/08 14:10
BTC+2.51%ARK+2.70%

According to DL News, the possibility of Trump creating a national Bitcoin reserve is a major factor driving the cryptocurrency market to new heights. The momentum of the US strategic Bitcoin reserve is now permeating down to state level, for example:

Florida is taking steps to establish its strategic Bitcoin reserve as early as the first quarter of 2025;
Pennsylvania is still formulating its own Bitcoin strategic reserve bill, which was launched in November and expects to invest 10% of the state's general fund in Bitcoin;

The goal of Florida and Pennsylvania is to directly purchase Bitcoins, but other states like Michigan and Wisconsin have chosen a more conservative route by investing in ETFs and trust funds related to Bitcoin:

SEC filings show that as of September, Michigan held $11 million worth of ARK 21Shares Bitcoin ETF;
Wisconsin Investment Board holds over $220 million worth Grayscale and BlackRock bitcoin ETF stocks.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
WisdomTree adopts Chainlink to bring NAV data on-chain to support tokenized funds
2
US-listed SOL treasury company Solana Company board approves $100 million stock buyback plan

Crypto prices

More
Bitcoin
Bitcoin
BTC
$104,237.43
+3.46%
Ethereum
Ethereum
ETH
$3,463.02
+5.89%
Tether USDt
Tether USDt
USDT
$1.0000
+0.05%
XRP
XRP
XRP
$2.32
+6.17%
BNB
BNB
BNB
$963.05
+4.28%
Solana
Solana
SOL
$163.12
+5.31%
USDC
USDC
USDC
$0.9998
-0.00%
TRON
TRON
TRX
$0.2901
+3.32%
Dogecoin
Dogecoin
DOGE
$0.1681
+6.11%
Cardano
Cardano
ADA
$0.5451
+5.52%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter