United States of Bitcoin? These States Are Considering BTC Reserves

Donald Trump and his political allies do plans to store Bitcoin at the national level in the U.S. Treasury Department.

And with the price of these assets repeatedly rising to new highs since Election Day, some US states are following suit.

So far, three states have submitted proposals to create strategic Bitcoin reserves, while digital asset advocates are calling on other local governments to do the same.

Here’s which states are considering replenishing their treasuries with the world’s oldest and most valuable digital currency.

Texas

Texas lawmakers will soon consider whether or not to establish a strategic Bitcoin reserve.

Texas state representative Giovanni Capriglione introduced a bill in December calling for the Lone Star State to build a Bitcoin stockpile.

The bill stipulates that Texas must hold Bitcoin for at least five years. The cryptocurrency must be kept in cold storage — that is, on a device not connected to the internet — and the assets cannot be used to conduct transactions outside of Texas, according to the bill.

“A strategic Bitcoin reserve aligns with Texas’ commitment to foster innovation in digital assets and provide Texans with greater financial security,” the bill reads.

Finally, the proposal also allows Texans to donate to the state’s Bitcoin fund.

Pennsylvania

The Pennsylvania House of Representatives introduced a bill in November calling for the creation of a strategic Bitcoin reserve.

Under the Bitcoin law, Pennsylvania’s treasurer could purchase Bitcoin with “up to 10%” of the State General Fund, Rainy Day Fund and the State Investment Fund.

By tapping 10% of the State General Fund, the Pennsylvania Treasury could purchase nearly $1 billion worth of Bitcoin.

“Bitcoin, which has increased significantly in value over the years, can help Pennsylvania keep pace with inflation and economic change,” state lawmakers said. said in a legislative memo released Nov. 12.

Ohio

Ohio State Representative Derek Merrin introduced a bill on December 17 establishing a strategic Bitcoin reserve in the Buckeye State.

The Ohio Bitcoin Reserve Act calls for the creation of a Bitcoin fund in the state treasury. It also grants the Ohio State Treasurer discretionary authority to purchase the asset.

“Ohio must embrace technology and protect taxpayer dollars from eroding,” Merrin said said Tuesday in an X-post.

While some details about how the reserve will work remain unclear, the draft legislation is expected to serve as a framework for Ohio lawmakers to build out in 2025.

Edited by Andrew Hayward