VanEck Chief Matthew Sigel Projects How Much Bitcoin Strategic BTC Reserves Could Hold

Quick Summary:

Matthew Sigel, Head of Digital Asset Research at VanEck, has estimated that Bitcoin strategic reserve bills proposed in multiple U.S.states could lead to the purchase of approximately 247,000 BTC.

If enacted, these bills could generate $23 billion in buying pressure, adding a new dimension to state-level financial strategies.

Last month, an executive order established a working group to assess the feasibility of holding Bitcoin and other digital assets at the federal level.

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Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: IndiaMexicoUnited States

Topics: Strategic bitcoin reserve Bitcoin News VanEck 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-12 @ 21:05:53 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 531 words

Reading Time: 3 minutes read

Sentences: 33 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 26108169

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