Michigan Proposes Legislation for a Cryptocurrency Reserve as Its Latest Initiative

VanEck’s head of digital assets Matthew Sigel predicted that the approval of these funds could lead to a $23 billion injection. This wave of liquidity could then introduce some buy side pressure in BTC’s order books. Along with the uptick in Bitcoin strategic reserve bills in the US, there is also increasing institutional adoption around Bitcoin. Metaplanet announced on Feb. 12 that it raised around $26.1 million to purchase more of the leading crypto. The funds were raised through zero-interest, unsecured and unguaranteed bonds.