The debate over adopting Bitcoin (BTC) as a strategic reserve in the United States (US) is gaining momentum. Ten states have already proposed bills to create national cryptocurrency reserves.
The debate over adopting (BTC) as a strategic reserve in the United States (US) is gaining momentum. Ten states have already proposed bills to create national cryptocurrency reserves.
The most recent initiative came from Arizona, which approved a bill in the state Senate Finance Committee that would allow a portion of public funds to be held in Bitcoin. As a result, the proposal, called the Strategic Bitcoin Reserve Act (SB1025), is now before the Senate Rules Committee and, if approved, could be sent to the House of Representatives.
The bill was introduced by Senator Wendy Rogers and Representative Jeff Weninger. The text provides that up to 10% of the capital of government entities and public funds can be invested in Bitcoin and other digital assets.
In addition to Arizona, other states are at various stages of proposals to adopt Bitcoin as a government reserve. According to the Bitcoinlaws.io portal, similar projects are underway in the following states:
Arizona
Texas
Utah
Wyoming
Kansas
Ohio
North Dakota
New Hampshire
Massachusetts
Pennsylvania
How would Bitcoin reservation work in the United States?
Arizona’s Bitcoin Strategic Reserve bill aims to allow state governments to store Bitcoin in segregated and secure accounts. The idea is to protect your funds from dollar devaluation and diversify reserve assets.
Additionally, the initiative opens up the possibility for pension funds to invest in Bitcoin, which could further boost institutional adoption of the cryptocurrency.
Currently, at least 13 legislative proposals related to Bitcoin reserves are pending in different states, reinforcing the growing impact of cryptocurrency on the country's economic and regulatory decisions.
Additionally, the growing acceptance of Bitcoin by state governments is validated by President Donald Trump’s pro-crypto policies. Previously, in the early days of his administration, Trump signed an executive order facilitating the adoption of digital assets by businesses and governments.
