U.S. States Advance Bitcoin Reserve Legislation with Significant Potential Impact

According to PANews, as of March 20, 2025, 18 U.S. states have progressed with 33 Bitcoin reserve strategy bills. If fully implemented and executed at the proposed limits, these bills could generate a potential buying demand of up to $53.4 billion, equivalent to approximately 630,000 BTC. This figure is 1.5 times the net inflow of U.S. spot BTC ETFs, which stands at $35.8 billion, and matches 1.26 times the current BTC holdings of MicroStrategy. The data is derived from the states' fiscal year 2024-2025 budgets and includes only bills with clear funding sources and proportion limits. The estimation is based on Bitcoin's average price of $84,634 as of March 20, 2025.