United States of Bitcoin? Here Are the States Considering BTC Strategic Reserves
US President Donald Trump has hinted at establishing a Bitcoin strategic reserve in the coming months. This has caused BTC to soar to new peaks in recent weeks, with some US states now considering creating a similar reserve.
At the time of writing, eight states have submitted proposals to create Bitcoin strategic reserves as crypto advocates call for more local governments to follow suit. The eight states include:
Texas
Last December, Texas House Representative Giovanni Capriglione tabled a bill that proposed the creation of a Bitcoin reserve for the Lone Star State. Details in the draft legislation indicate that the Texas government must hold purchased Bitcoin for five years or more. Furthermore, the BTC should be stored in a hardware wallet (a crypto wallet not connected to the internet). The bill also proposes that the Texas administration not use the acquired Bitcoin to make transactions outside the State.
Capriglione argues that creating a Bitcoin reserve is in line with Texas’ commitment to promoting crypto innovation and providing citizens with advanced financial security.
Pennsylvania
Policymakers of this State presented a bill in November that championed the establishment of a BTC reserve. The bill proposes that the Pennsylvania administration purchase Bitcoin using money from the State Investment Fund, the State General Fund, and the Rainy Day Fund.
The lawmakers behind the bill want Pennsylvania to acquire at least $1 billion worth of Bitcoin in the next four years. They claim that BTC can help the State tackle rising inflation and keep pace with economic changes.
Ohio
House Representative Derek Merrin wants Ohio, also known as the Buckeye State, to create a Bitcoin reserve. The policymaker submitted the proposal ‘The Ohio Bitcoin Reserve Act’ on December 17th, 2024. If approved, the bill will give Ohio’s Treasurer power to acquire BTC for an unknown timeframe.
Last Tuesday, Merrin said it was time for Ohio to embrace crypto, arguing that the technology was revolutionizing the financial space.
New Hampshire
House Representative Keith Ammon tabled a bill earlier this month to enable New Hampshire to invest in BTC. The proposal will also permit the State Treasurer to buy other crypto assets that meet mentioned market cap requirements.
Alongside investing in Bitcoin, New Hamshire State’s Treasurer will have the authority to participate in staking or lending activities.
Speaking to a journalist from Decrypt on January 10th, Ammon said States that are not considering building Bitcoin reserves risk losing.
North Dakota
Legislators of North Dakota put forth a crypto reserve proposal on January 9th. While the bill doesn’t mention any digital asset that the State’s Treasurer will purchase if approved, North Dakota legal expert John Bjrnson claims lawmakers behind it will likely opt for Bitcoin upon consultations.
Wyoming
At the start of 2025, five senators from the Republican Party tabled a proposal that would allow Wyoming’s Treasury to spend 3% of the various state funds on Bitcoin. Under the bill, the State Treasurer will be the custodian of the acquired BTC. Moreover, the Treasurer will be permitted to invest in a Bitcoin ETF.
Massachusetts
Massachusetts Senator Peter Duran published a bill to build a Bitcoin strategic reserve for the State earlier this month. The proposal states that Massachusetts’ Treasurer will use 10% of the State’s Rainy Day Fund to invest in BTC or another top digital currency. Moreover, the acquired tokens will be held by a qualified custodian selected by the Treasurer.
Duran’s bill also proposes lending any of the purchased digital assets to enable Massachusetts to generate extra income.
Oklahoma
On January 15th, House Representative Cody Maynard presented a bill that would let Oklahoma’s Treasurer invest a portion of the public funds in assets with a market cap of more than $500 billion. As of this writing, Bitcoin is the only crypto asset that fits the stated criteria.
Additionally, Oklahoma would be allowed to buy asset-backed stablecoins if the bill is passed.
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