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187 days

These 18 states could spend $23 billion on bitcoin if they pass bills to establish crypto reserves - MarketWatch

1. 23 bills propose state bitcoin reserves, potentially buying $23 billion worth. 2. BTCUSD traded above $96,000, 12% below record high of $109,225. 3. Republican lawmakers mainly introduce bills allowing pensions to invest in bitcoin. 4. Uncertain passage of bills; 3 of 23 have already failed. 5. Funding sources for reserves include general funds, gifts, and forfeitures.

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FAQ

Why Bullish?

Significant state-level investments could drive demand and increase BTCUSD price.

How important is it?

The proposed investments represent substantial flows into bitcoin, which could significantly affect its price.

Why Long Term?

If enacted, the sustained investment could positively influence long-term bitcoin valuation.

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