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