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U.S. States Begin Adopting Bitcoin Reserves, Signaling a Shift in Economic Strategies and Cryptocurrency Recognition.
Nearly two dozen U.S. states are analyzing bills to establish strategic reserves of Bitcoin. This movement signals an important change in how public funds view cryptocurrencies.
According to estimates from investment manager VanEck, if these proposals advance, states could acquire about 247,000 BTC, valued at US$ 23.7 billion at current prices.
Here are the states that are already taking action:
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More than 3,900 Brazilian municipalities are unable to pay their own bills, and yet two city halls located just 700 meters apart continue to operate separately, each with a full structure.
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Lula joins Mexico and Spain to defend Cuba after Trump threatens the island and says that the world cannot sleep and wake up every day with a president of the Republic threatening to go to war.
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The report shows that the center of the global economy is shifting to the South, with BRICS and emerging markets growing above the global average while Europe barely reaches 1% and the United States spends trillions on wars.
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BRICS countries lead the world ranking in hours worked, with India, China, Russia, and Brazil at the top of the list, while Germans work nearly a thousand hours less per year and earn much more.
Alabama
In December, state auditor Andrew Sorell advocated for a strategic reserve for Alabama. “The cryptocurrency is here to stay”, he stated to 1819 News. “Nearly 500 million people worldwide own cryptocurrency. The debate over whether cryptocurrency will succeed is over. Now, the struggle to determine which states will benefit from it has begun.“
Arizona
In January, the Arizona Senate Finance Committee approved the “Arizona Strategic Bitcoin Reserve Act”, allowing for an investment of up to 10% of public funds in Bitcoin. The text is now headed for review by the Rules Committee and then the House of Representatives.
Florida
The Florida CFO, Jimmy Patronis, requested the State Administration Council to study the feasibility of investing part of the pension fund in Bitcoin. “When managing state pensions for firefighters, teachers, and police officers, it is also essential to prioritize the bottom line and ensure the best return on investment“, he explained.
Kansas
In January, Kansas proposed a bill to allow the state retirement system to allocate up to 10% of its assets, currently valued at US$ 27.4 billion, in Bitcoin ETFs.
Illinois
At the end of January, the “Bitcoin Strategic Bill” reached the Rules Committee. Representative John Cabello is the author of the proposal that creates a strategic fund managed by the state treasurer, including Bitcoin donations from citizens.
Iowa
This month, Representative Taylor Collins introduced a bill to authorize public resources to be invested in digital assets, focusing on Bitcoin.
Massachusetts
Senator Peter Durant proposed investing the state’s uncommitted surplus funds in Bitcoin. According to him, this reserve would strengthen the state’s assets and protect them against economic fluctuations.
Michigan
The Michigan Retirement System revealed it had purchased 110,000 shares of a Bitcoin ETF, valued at US$ 6.6 million, as of June last year.
Missouri
Representative Ben Keathley introduced bill HB 1217, which creates a strategic fund focused on Bitcoin as a hedge against inflation and financial diversification.
Montana
Montana wants to invest up to US$ 50 million in digital assets, including Bitcoin, aiming to diversify the state’s reserves.
New Hampshire
Representative Keith Ammon introduced a bill to allow the custody of Bitcoin in the state treasury. The aim is to modernize financial management.
New Jersey
In July, Jersey City Mayor Steven Fulop mentioned plans to expose the local pension fund to Bitcoin ETFs. The asset was quoted at US$ 67,000 at the time.
New Mexico
Senator Anthony Thornton drafted SB 275, proposing to allocate 5% of the state public funds in Bitcoin.
North Carolina
The state approved a bill to study the impact of Bitcoin on public finances. Now, a new text allows direct investments in Bitcoin ETFs.
North Dakota
Resolution 3001 proposes the use of digital assets in the state fund. Representative Nathan Toman supports the project and advocates for the protection of local miners.
Ohio
Leader Steve Demetriou suggested investing up to 10% of state funds in Bitcoin, taking advantage of the abundant natural gas supply to meet the energy demands of mining operations.
Pennsylvania
In November, a bill sought to allow public funds to be invested in Bitcoin. Although it was rejected, it sparked intense debate.
South Dakota
The state House is discussing bill 1202, which allows public investment in Bitcoin. The text is supported by Representative Logan Manhart.
Texas
Texas wants to create a specific reserve with Bitcoin, in addition to collecting taxes in the cryptocurrency. A law prohibits the sale of state bitcoins for five years.
Utah
Utah’s digital assets task force has already approved projects that have become laws, and is now reviewing the creation of a strategic reserve in Bitcoin.
Wisconsin
Wisconsin was the first state to acquire Bitcoin ETFs. The state fund holds 3.1 million shares of IBIT, valued at US$ 588 million.
Wyoming
Wyoming is discussing investing up to 3% of public funds in Bitcoin, applying the rule to the main state funds.
With the growing number of states adopting the strategy, Bitcoin may become a common asset in U.S. public reserves, especially in pension funds and long-term projects.
With information from crypto.news
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