A recent report from VanEck suggests that US states could potentially buy up to 247,000 BTC through state reserve or pension funds if their proposed bills are successful. The report highlights that 17 states have introduced bills for creating a strategic Bitcoin reserve, with 16 still active. These bills vary in terms of funding size and percentage of Bitcoin allocation, with an estimated total acquisition of 242,787 BTC worth $23.54 billion. This potential demand from states adds to the growing institutional interest in Bitcoin and raises speculation of a supply shock as the asset becomes increasingly scarce. Analysis indicates that most Bitcoins are already in the hands of individuals and entities, which may limit availability for governments and private institutions seeking to acquire the cryptocurrency.



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