Several US states are considering the establishment of a strategic Bitcoin reserve, as they anticipate a push from President-elect Donald Trump at the federal level. During his campaign for the November 2024 elections, Trump made several promises to the crypto industry, with the launch of a strategic US Bitcoin reserve being one of the most discussed. While experts debate the feasibility of such a move at the federal level and its potential impact on the market, some states are exploring the possibility of creating their own Bitcoin stockpile. At least three states are currently considering this option. Pennsylvania State Representative Mike Cabell proposed a bill allowing the state treasurer to invest up to 10% of state funds in Bitcoin, arguing that it would protect state assets against inflation. Texas State Representative Giovanni Capriglione introduced a bill that would establish a Bitcoin reserve within the state treasury, allowing residents to pay charges and taxes with Bitcoin. Ohio State Representative Derek Merrin also submitted a proposal to establish a Bitcoin stockpile. While these bills are still in the early stages and it remains unclear if they will gain enough support to become law, the speculation surrounding them continues to generate excitement about Bitcoin and cryptocurrency.
Multiple US States Considering Bitcoin Reserves in Anticipation of Trump’s Federal Initiative
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