House Bill 1217, introduced by Representative Ben Keathley, seeks to create a Bitcoin Strategic Reserve Fund in Missouri, aimed at diversifying the state's investment portfolio as a hedge against fiat currency inflation. Filed on February 6, the bill would allow the Missouri treasurer to receive, invest, and hold Bitcoin under specific conditions. The proposed fund would also accumulate Bitcoin through donations from individuals and government bodies. Additionally, the bill mandates that all government entities in Missouri accept cryptocurrency for approved payments, including taxes and fees, though users must cover any transaction costs. HB 1217 also includes a long-term strategy for holding Bitcoin for at least five years. If passed, the bill would give the state treasurer the authority to allocate state funds for Bitcoin investments, potentially becoming effective on August 28, pending further discussions. This legislative effort is part of a broader trend, with at least 17 U.S. states exploring the establishment of Bitcoin reserves.

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