in the USA Bitcoin $93,857.8Interest in (BTC) is not limited to individual investors. Some states are discussing plans to create Bitcoin reserves to support financial innovation and diversify their economies. States considering taking steps in this regard include Texas, Pennsylvania, Ohio, New Hampshire and North Dakota.
Texas Wants Bitcoin Reserves
Texasaims to take its interest in digital innovations one step further with its Bitcoin reserve. Texas House of Representatives The bill, introduced by member Giovanni Capriglione in December 2024, proposes that the state create a strategic Bitcoin stockpile. The bill requires that Bitcoins be stored in a cold wallet for at least five years and that stored BTCs not be used for transactions outside the state.
“The strategic Bitcoin reserve demonstrates Texas’ commitment to innovation in cryptocurrencies and increases the financial security of Texans,” Capriglione said. Additionally, according to the bill, the public will be able to donate to the state Bitcoin fund.
There Are Similar Initiatives in Other States
in November 2024 Pennsylvania House of Representativesintroduced a bill proposing that the state purchase Bitcoin using a 10 percent share of the General Fund, Rainy Day Fund, and Investment Fund. This bill, which envisages a BTC investment of approximately $1 billion, supports the view that Bitcoin can provide protection against inflation.
On December 17, 2024 Ohio House of Representatives Member Derek Merrin introduced a bill that would create a strategic Bitcoin reserve for the state. While the bill authorizes the state treasury to purchase Bitcoin, it points out that Ohio must embrace the technology and protect tax revenues from depreciation.
The bill, introduced by Keith Ammon on January 10, 2025, new hampshire He suggests his state invest in Bitcoin. This bill, for which only Bitcoin is currently eligible due to the high market value criterion, also gives the state treasury the authority to engage in staking or lending practices with Bitcoin. Ammon said, “The state that created the last Bitcoin reserve will lose. “It is important to take action on this issue,” he said.
However, on the same day, a group of legislators north dakota He introduced a bill in his state proposing to invest selected state funds in cryptocurrencies. This bill, which does not yet refer to a specific entity, may form the basis of a more detailed draft law in the future.
States in the USA that want to create Bitcoin reserves aim to both keep up with digital transformation and ensure long-term financial stability by adopting economic innovations.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
