US states are introducing Bitcoin reserve bills, fueling speculation about a global accumulation race as institutions and governments adopt BTC as a reserve asset.
The growing number of Bitcoin reserve proposals in the United States has fueled speculation about a potential global accumulation race, as early adopters could benefit from the cryptocurrency’s monetary incentives.
Kentucky became the 16th US state to introduce legislation aimed at establishing a Bitcoin (BTC ) reserve that would allocate up to 10% of excess state reserves into digital assets, Cointelegraph reported on Feb. 6.
Bitcoin is on track to “becoming a mainstream reserve asset” thanks to growing institutional and national-level adoption, according to Isaac Joshua CEO of crypto startup platform Gems Launchpad.
Read more,Visual Description:
The image is a dynamic and powerful representation of the global race to accumulate Bitcoin as a reserve asset. The central focus of the composition is a large, glowing golden Bitcoin symbol, soaring high above a stylized map of the United States. Each state on the map is marked with a smaller, shining Bitcoin icon, indicating those that have introduced legislation for Bitcoin reserves. Kentucky is highlighted with a more prominent, brighter Bitcoin symbol to denote its recent legislative action.
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