Alabama and Minnesota are advancing legislation to allow state investments in Bitcoin. Minnesota's proposal, known as the Minnesota Bitcoin Act, was introduced by Rep. B. Olson and aims to authorize the State Board of Investment to allocate public funds into Bitcoin directly. In Alabama, a companion bill filed by Sen. April Weaver sets eligibility criteria that currently only Bitcoin meets, focusing on digital assets with a market capitalization of at least $750 billion. Both proposals seek to take effect in 2025, with Alabama's set for October 1 and Minnesota's for January 1, 2026. The legislative approach involves introducing identical bills in both chambers, facilitating faster approval. The initiatives reflect a growing trend among U.S. states to recognize Bitcoin as a strategic reserve asset, despite some suspensions of similar plans elsewhere. South Carolina has also introduced a bill allowing its treasurer to allocate up to 10% of funds into Bitcoin, showcasing increasing acceptance of cryptocurrency at the state level.

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