According to BlockBeats, as of February 20, data from SoSovalue indicates that twenty state-level jurisdictions in the United States are initiating legislative processes related to Bitcoin reserve strategies. Fifteen of these states have seen their bills formally accepted by legislative houses and are now under committee review, marking a regional legislative wave for Bitcoin reserve laws.
In Utah, for instance, Bill HB0230 proposes allowing four public funds—the State Disaster Recovery Restricted Account, the General Fund Budget Reserve Account, the Income Tax Fund Budget Reserve Account, and the Medicaid Growth Reduction and Budget Stabilization Account—to invest up to 5% of their total assets in Bitcoin. Based on Utah's 2024 financial report, this could translate to a potential purchasing power exceeding $70 million.
Analysts from SoSovalue suggest that the strategic Bitcoin reserve legislation represents not only a breakthrough for Bitcoin within the traditional financial system but also a historic advancement. As more state governments explore similar strategies, the trend of public funds holding Bitcoin may redefine the global market's perception of Bitcoin as an asset. It is increasingly being seen not just as digital gold but as a component of national and institutional asset allocation, further solidifying its position in the global financial system.
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