In the context of Bitcoin being increasingly recognized as a strategic asset, many states in the U.S. are considering establishing Bitcoin reserve funds to diversify their investment portfolios and enhance financial stability. These moves not only demonstrate interest in blockchain technology but also reflect the growing trend of cryptocurrency acceptance in public financial policy.
Texas: Pioneer with Bitcoin Reserve Proposal
In December 2024, State Representative Giovanni Capriglione proposed Bill H.B. 1598 to establish a strategic Bitcoin reserve fund for #Texas . Under this bill, the state would hold Bitcoin for at least five years and allow residents to contribute to the fund. If passed, Texas would become one of the first states in the U.S. to officially integrate Bitcoin into the public financial system.
Utah: The First State to Get Close to Implementing a Bitcoin Fund
#Utah is currently leading the implementation of the Bitcoin reserve fund with the "Strategic Bitcoin Reserve" Bill (HB230). This bill has been passed by the House and is awaiting review in the Senate. If approved, the state treasurer will have the authority to invest up to 5% of the public fund into Bitcoin and digital assets with a market capitalization over $500 billion. This is a groundbreaking step that could set a precedent for other states.
Pennsylvania: Moving Towards a More Diverse Portfolio
In November 2024, the House #Pennsylvania proposed a bill calling for the establishment of a strategic Bitcoin reserve fund. According to this, the state treasurer could invest up to 10% from the General Fund, Reserve Fund, and the state's Investment Fund into Bitcoin. By integrating digital assets into the investment portfolio, Pennsylvania is demonstrating its commitment to adapting to modern financial trends.
Wyoming: Supporting Bitcoin in the Public Financial System
In early 2025, five Republican senators in Wyoming proposed a bill allowing the State Treasury to invest up to 3% of the state fund into $BTC . These funds include the general fund of the Wyoming Treasury, the permanent mineral trust fund, and the permanent land fund. This move reinforces Wyoming's position as one of the strongest supporters of cryptocurrency.
Many other states are considering
In addition to Texas, Utah, Pennsylvania, and Wyoming, at least 14 other states, including Alabama, Arizona, Florida, Kentucky, Massachusetts, Montana, New Hampshire, North Dakota, Ohio, Oklahoma, South Dakota, and several other states, are also considering similar bills aimed at integrating Bitcoin into their financial strategies.
Impact and Outlook
The fact that U.S. states are studying and considering Bitcoin reserves indicates a significant shift in the approach to public finance. If this trend continues to spread, Bitcoin may increasingly be viewed as a legitimate asset in the investment portfolios of local governments. This not only promotes the official recognition of cryptocurrencies but may also influence how other countries approach digital assets in the future.
Risk Warning
Although Bitcoin has the potential for long-term benefits, investing in cryptocurrency still carries many risks due to significant price volatility and legal factors that are not entirely clear. Investors should carefully consider before entering the market and only invest amounts they can afford to lose.
