updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Matthew Sigel, Head of Digital Asset Research at VanEck, has estimated that Bitcoin strategic reserve bills proposed in multiple U.S. states could lead to the purchase of approximately 247,000 BTC. If enacted, these bills could generate $23 billion in buying pressure, adding a new dimension to state-level financial strategies.
VanEck Chief Matthew Sigel has shared his analysis on X, stating that 20 state-level Bitcoin strategic reserve bills have been proposed across the United States. If these bills are implemented, states could allocate substantial funds toward Bitcoin purchases.
He noted that the projected $23 billion in buying pressure is based on the collective financial commitments of these states.
“This amount excludes pension fund investments,” Sigel said, suggesting that the overall buying pressure could increase if more states introduce similar reserve bills. The analysis indicates that demand for Bitcoin from state governments could contribute to the market’s liquidity and price movements.
North Carolina recently introduced House Bill 92, which would allow the state to allocate up to 10% of certain funds into Bitcoin and other cryptocurrencies. The bill requires that any cryptocurrency included in the reserve must have a market capitalization of at least $750 billion, which ensures that Bitcoin would be the primary asset in the reserve.
State Representative Mark Brody stated that adding Bitcoin to state reserves could provide a hedge against inflation. “With the U.S. dollar facing periods of inflation and devaluation, it is prudent to explore this new breed of assets,” Brody said.
Concurrently, New Mexico has already signaled interest in this direction. Senator Anthony Thornton recently filed the “Strategic Bitcoin Reserve Act,” which could allow the state to purchase up to $2 billion in Bitcoin.
While individual states move forward with their Bitcoin reserve proposals, the Trump administration has begun evaluating the possibility of a national cryptocurrency stockpile. Last month, an executive order established a working group to assess the feasibility of holding Bitcoin and other digital assets at the federal level.
The administration has not released specific details on how a national Bitcoin reserve would be structured. However, the growing interest among states suggests that Bitcoin is increasingly viewed as a long-term asset for public funds. Moreover, Donald Trump’s family project has also launched its Macro Strategy reserve, aimed at strengthening its position in the cryptocurrency market.
Amid these expectations, experts have noted that managing a Bitcoin reserve requires specialized knowledge, and some have raised concerns about government experience in handling digital assets.
Analysts have been monitoring Bitcoin’s price cycles, noting that previous market peaks occurred every four years. The last three highs were recorded in November 2021, December 2017, and November 2013. If this pattern continues, analysts expect the next peak to occur between November and December 2025.
Some experts reference the power law model, which suggests Bitcoin follows a long-term exponential growth trend.
Based on this model, potential price peaks in the current cycle could range from $190,000 to $290,000. Analysts argue that Bitcoin’s price movements have remained within expected patterns despite short-term fluctuations.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
VanEck Chief Matthew Sigel recently shared a bullish outlook on Bitcoin. He indicated that Bitcoin’s ongoing rally is just the beginning, with his firm setting a price target of $180,000 for the next cycle. Sigel cited several key drivers supporting the rally, including increased institutional interest, favorable shifts in government, and historical patterns in BTC post-election performance.
During the CNBC interview, VanEck Chief Matthew Sigel expressed confidence that Bitcoin’s rally is only beginning, expecting the cryptocurrency to reach $180,000 within this market cycle. Sigel pointed to several crucial factors driving this growth, starting with increased institutional investment in Bitcoin.
According to him, interest from financial advisors is rising, with many looking to expand their Bitcoin exposure. Sigel mentioned that his team has been receiving a surge of calls from advisors who initially held little to no Bitcoin but are now aiming to increase their allocations significantly.
In addition, the VanEck Chief also identified favorable crypto regulatory changes in the U.S. as a critical factor in Bitcoin’s potential. He noted that pro-Bitcoin officials in the government, including key appointees in the new administration, signal a policy shift supportive of cryptocurrency.
Sigel emphasized,
“This is a state change in terms of government support. Look at this cabinet, the VP Attorney General, Director of Defense, National Security Advisor, and possibly even the Secretary of Treasury being pro-Bitcoin.”
In addition, Sigel suggested that the departure of SEC Chair Gary Gensler could further reduce regulatory pressures on digital assets. He believes this shift would end the “regulation by enforcement” era, creating a more favorable environment for Bitcoin and other crypto projects to thrive in the U.S.
The resignation of the SEC Chair has become a hot topic, with several pro-crypto candidates in the spotlight. Leading contenders who will replace Gary Gensler include Robinhood’s CLO Dan Gallagher, SEC Commissioners Mark Uyeda, and Hester Pierce.
Reflecting on past performance, VanEck Chief Sigel highlighted Bitcoin’s historical post-election pattern, where the cryptocurrency has previously experienced gains. He compared the current rally to the period following the 2020 election, noting that Bitcoin doubled in price between November and early 2021.
Sigel also mentioned that multiple indicators tracked by VanEck are currently “flashing green” for Bitcoin, suggesting continued upward momentum. These indicators include reduced search interest relative to previous peaks, suggesting that the market has yet to reach speculative highs, as well as robust trading activity within the derivative markets. He noted that these elements reflect sustained interest in Bitcoin without excessive speculation.
VanEck Chief Matthew Sigel expects Bitcoin to reach a high of $180,000 in this cycle. On November 13, Bitcoin reached a new all-time high of $93,477, gaining approximately 30% in November and 115% year-to-date.
Sigel pointed to Bitcoin’s current trading position above previous resistance levels, which has put it into “blue sky territory,” where no technical barriers are in sight. He suggested that Bitcoin price may encounter periodic corrections, similar to previous cycles, but anticipates that these will only temporarily affect its upward trajectory.
According to recent BTC price predictions, Bitcoin is positioned for a potential rally beyond the $100,000 mark, supported by miner activity and technical indicators. Analysts highlight that Bitcoin’s bullish breakout from a flag pattern formation suggests sustained upward momentum, while the 20- and 50-day EMAs provide immediate support levels.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Virgin Orbit stock is up over 73% in the pre-market while yesterday it closed down almost 15%.
Aircraft engineering company Virgin Orbit (NASDAQ: VORB) is about to close a deal with venture capital investor Matthew Brown. Reuters reported the news referring to a term sheet that reveals that the company is nearing an agreement with the investor via a private share placement. Meanwhile, Virgin Orbit is moving toward filing for bankruptcy if it does not secure capital as soon as possible. The space technology company has been in a financial mess, being the most challenging funds matter since its inception.
Words on the street were that the company which provides launch services for small satellites was in talks with two firms for financing. The said restructuring firms are Alvarez & Marsal (A&M) and Ducera. However, the latest news on potential financial backing from Mathhre Brown could help Virgin Orbit survive these challenging times. Virgin Orbit posted a loss of almost $44 million in Q3. During the three-month period, its cash reserves were reduced from 122 million to $71 million. The company saw its market valuation plunge to a record low of $15 million about 24 hours ago. Meanwhile, it boasted of over $4 billion market cap when it went public via a SPAC deal in 2021. The high competition in the space startup market also contributed to the company’s recent losses.
According to the term sheet, Virgin Orbit and Matthew Brown are looking to close the agreement on Friday. Upon the initial deal, there would still be a need for a final agreement. A person with direct knowledge of the ongoing discussion with Matthew Brown said executives of Virgin Orbit agreed to the deal during a meeting on Tuesday, the same day the company recorded its lowest market cap since its public debut.
Per the agreement with Virgin Orbit, Matthew Brown will have access to convert his investment in preferred shares into common shares. The conversion will be based on the volume-weighted average price within 30 days before the deal is concluded and signed. The converted shares will also have the same voting rights as the common stock.
Prior to entering an agreement with Mathew Brown, Virgin orbit was exploring strategic options to stay afloat in the sinking water. The satellite launch company recently announced a staff furlough, affecting almost all its workers. The news caused its shares to drop more than 43%. The same shares jumped more than X2 as Reuters reported news of incoming funding. At press time, Virgin Orbit Holdings trades up 73.26% to $0.77, having closed down almost 15%. Market data shows no signs of gains for the past year. Instead, the company has lost 93.91% in the last twelve months.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
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