14 US States now have proposals out for BTC Reserves
With Trump calling for the U.S. to be the Crypto Capital of the world and Senator Lummis promoting a Bitcoin Strategy Reserve (BSR).
Just this week Texas filed SB 778 to establish a BTC strategic reserve.
Recall Texas put forth a request and it was approved for a Gold Bullion Depository back in July 2015, and it officially opened in June 2018. So Texas is already a trailblazer in terms of increasing the security and stability of our gold reserves.
Other States:
- Alabama - Dec. '24 proposal
- Arizona - Jan. '25 proposal
- Indiana - House Bill 1322 Jan. '25 proposal
- Illinois - House Bill 1844 (HB1844) Jan. '25 proposal
- Kansas - Senate Bill 34, Jan. '25 proposal
- Massachusetts - The bill, called SD 422, Jan. '25 proposal
- New Hampshire - Jan. '25 proposal
- North Dakota - Jan. '25 proposal
- Oklahoma - House Bill 1203, Jan. '25 proposal
- Ohio - House Bill 703, Jan. '25 proposal
- Pennsylvania - Nov. '24 proposal
- Texas - talked about it above
- Utah - H.B. 230, Jan. '25 proposal
- Wyoming - HB0201, Jan. '25 proposal
Are they too late to really benefit from adding a BSR?
Reminder the last BTC to be mined will be 2140 which is not that far away. So 21Billion will be exhausted, subtract the amount of BTC lost and never to be recovered. Is there enough to benefit all of these reserves or will they have to combine them to really have value? Or is it just, Wall Street CEOs signaling their willingness to dive deeper into crypto if Trump continues to roll out favorable policies for the industry enough to buoy the finance revolution?
Do not miss these pieces either
- As I was writing this blog, Montana introduced a bill to enable the state to invest in Bitcoin and digital assets.
- And hot off the presses: Czech National Bank is now considering holding 5% of its $146B reserves in Bitcoin.
- I would look for Florida, Kentucky and South Dakota to quickly follow other states leadership and put forth their own Digital asset reserve bills.
Summary
More and more US states are submitting proposals for their own BTC reserves, bringing back state level autonomy. My Blog map is dated already and its only been four days, this remains a very fluid situation for certain.
Credit - Blog image from TheNewsCrypto.com - all rights remain!
