With Donald Trump back in the White House, discussions around Bitcoin reserves at a national level have gained momentum. Following the asset’s price rally since Election Day, several U.S. states are exploring proposals to establish strategic Bitcoin reserves.
Currently, nine states are actively considering legislation aimed at stockpiling Bitcoin, with advocates urging more local governments to take similar actions.
States Considering Bitcoin Reserves
TexasTexas lawmakers are set to deliberate on a proposal by State Representative Giovanni Capriglione, which advocates for the creation of a Bitcoin stockpile. The bill mandates that Texas holds the Bitcoin for a minimum of five years in cold storage and restricts transactions of these assets to within the state.
PennsylvaniaIn November 2024, the Pennsylvania House of Representatives proposed a bill that would allow the state Treasurer to purchase up to 10% of its General Fund with Bitcoin, which could potentially mean nearly $1 billion in investments for the state.
OhioThe Ohio Bitcoin Reserve Act, introduced by State Representative Derek Merrin, aims to create a Bitcoin fund within the state treasury. It would grant the State Treasurer discretion over Bitcoin purchases to protect tax dollars from devaluation.
New HampshireNew Hampshire’s Rep. Keith Ammon introduced a bill that would enable the state to invest in Bitcoin, allowing the Treasurer to engage in lending or staking practices.
WyomingFive Republican senators in Wyoming put forth a bill allowing the investment of up to 3% of multiple state funds in Bitcoin, which would be managed by the state treasurer or through certified custodians.
MassachusettsIn January, Senator Peter Duran proposed legislation to establish a strategic Bitcoin reserve that could use up to 10% of Massachusetts’ rainy day fund for investments in Bitcoin or other cryptocurrencies.
OklahomaRep. Cody Maynard’s proposed bill limits the state’s investment in digital assets, including Bitcoin, to a maximum of 10% of public funds, focusing on digital assets measuring over $500 billion in market capitalization.
UtahRepresentative Jordan Teuscher introduced the “Blockchain and Digital Innovation Amendments,” which would permit investing up to 10% of state funds into digital assets like Bitcoin.
IllinoisRep. John Cabello’s proposed legislation for Illinois would establish a Bitcoin reserve fund managed by the state treasurer, with provisions for auditing and management.
MarylandDelegate Caylin Young introduced a measure permitting the State Treasurer to invest funds seized from gambling violations into Bitcoin.
KentuckyLawmakers are discussing legislation to invest retirement funds into cryptocurrencies, notably Bitcoin, and manage the investments through secure custody solutions.
New MexicoState Senator Anthony L. Thornton has proposed investing 5% of public funds into Bitcoin as part of the Strategic Bitcoin Reserve Act.
AlabamaWhile no formal legislation has been filed yet, Alabama State Auditor Andrew Sorrell has called for a strategic Bitcoin reserve modeled after the federal initiative.
ArizonaArizona advanced a bill encouraging investments in Bitcoin, focusing on monitoring developments in exchange-traded funds and their integration into the state’s investment strategy.
Proposed Legislative Failures
In North Dakota, a resolution to invest state funds in digital assets was rejected in February 2025, hindered by a lack of specifics and a timely legislative process.
As discussions evolve, more states may join the trend or modify their proposals to include allocations for Bitcoin, a currency that continues to gain traction as a viable asset for treasury diversification.
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