The US is seeing a surge in state-level initiatives to incorporate Bitcoin and cryptocurrencies into official reserves. Utah has made significant strides, with the state’s House Committee passing a bill that authorizes investment in digital assets like Bitcoin. This legislation, spearheaded by Representative Jordan Teuscher and Treasurer Marlo Oaks, is now headed to the Senate for a vote. If approved, Utah could become the second state in the nation to establish a Strategic Bitcoin Reserve, a major step toward integrating cryptocurrencies into state finance systems.
Meanwhile, in Kentucky, state Representative TJ Roberts has announced plans to introduce a Bitcoin Reserve bill in the General Assembly. This follows similar efforts in other states like South Dakota, where Representative Logan Manhart intends to propose legislation for a Strategic Bitcoin Reserve. These initiatives highlight growing interest in Bitcoin as a key financial asset, with several states positioning themselves to take proactive steps in adopting cryptocurrency.
Arizona has also entered the conversation, introducing a bill on January 27 that would allow the state to invest public funds in digital assets, including Bitcoin. Reports suggest that as many as 20 states could submit similar proposals in the near future, with some possibly considering multiple bills aimed at establishing Bitcoin reserves. This wave of state-level legislation reflects a broader national trend, with some speculating that the Trump administration may be preparing a federal Bitcoin Reserve as well.
In contrast to Bitcoin-centric strategies, Ripple CEO Brad Garlinghouse has advocated for a more inclusive crypto reserve that would include $XRP , Ethereum ($ETH ), and other digital assets alongside Bitcoin. His recent article in X calls for a more balanced and equitable approach to crypto policy, urging for a reserve that reflects the diversity of the evolving market.
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