Opinion: Unless the US state-level Bitcoin strategic reserve plan is actually implemented, it is difficult to see the market rise

Odaily News “We’ve had cyclical bull runs in cryptocurrencies before, but this is the first time I can remember that the hype has really happened at the government level,” Eugene Epstein, head of trading and structured products at Moneycorp, said in an interview. “So far, there’s just been a lot of talk, but in terms of acceptance, this is still the furthest crypto has ever come.”
The United States is already the largest sovereign holder of Bitcoin, primarily from judicial seizures. According to Bitbo, the country holds more than 200,000 Bitcoins, equivalent to nearly $22 billion.
Epstein said that the cryptocurrency market is trading based on the expectation that the United States will make large purchases in the future. The large-scale purchases of cryptocurrencies by governments at all levels in the United States have been digested by the market, and if expectations are not met, they may be waived: "Unless some kind of state-level plan really starts to take effect, it is difficult for me to see the market rise, and I expect this will be led by the Treasury Department." (Cointelegraph)