- Multiple US states are advancing Bitcoin reserve legislation that could accumulate 247,000 BTC ($36B AUD), with VanEck’s research highlighting significant potential state-level cryptocurrency adoption.
- President Trump has established a White House Working Group led by AI & Crypto Czar David Sacks to develop digital asset regulations and explore national cryptocurrency reserves.
- Federal Reserve Chairman Jerome Powell has made an explicit commitment to prevent CBDC implementation during his tenure, which extends through May 2026.
A Strategic Bitcoin Reserve (SBR) is one of the most anticipated crypto events in 2025. It has investors hoping the US Federal Government will not only not sell its current BTC supply but buy more and boost the price of the OG crypto.
Several US states are also in varying stages of either a Bitcoin reserve or another form of a crypto stockpile. Some European jurisdictions are also looking at similar solutions, while Japan, for example, takes a cautious ‘look-and-see-approach’.
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VanEck’s head of digital asset research, Matthew Sigel, said in a post on X, that the firm has analysed the “20 state-level Bitcoin reserve bills”, and found that they could potentially accumulate an aggregate of 247,000 BTC, worth US$23 billion (AU$36.6 billion).
Sigel added that this doesn’t even include any other major funds (like pensions) buying Bitcoin.
This sum is independent of any pension fund allocations, likely to rise if legislators move forward.
Matthew Sigel, VanEckFederal Reserve Chair Commits to ‘No CBDC’
On the national level, US President Donald Trump tasked a newly formed Working Group, led by the White House AI & Crypto Czar David Sacks and including key federal leaders, to develop a comprehensive regulatory framework for digital assets and consider a national digital assets stockpile.
Fox Business reporter Eleanor Terrett wrote that the initiative, outlined in an Executive Order, revokes prior restrictive policies on digital finance and prohibits any actions related to central bank digital currencies (CBDC).
US Fed Chair Jerome Powell, whose term ends in May 2026, promised during a Senate hearing on Tuesday that there will be no CBDC as long as he is at the Fed.
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During the meeting, Senator Bernie Moreno, an Ohio Republican, asked Powell whether he’d be committed to never allowing a CBDC as long as he’s the chairman of the Federal Reserve system.
Which Powell answered with a resounding “Yes”.
Moreno thanked Powell and said that it was “extremely important” he made that commitment, adding it makes him very happy to hear the chair say that.
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