Nine U.S. states are now proposing to establish strategic Bitcoin reserves amid the cryptocurrency's rising popularity and value. Key states considering these proposals include: Texas, where a bill mandates a five-year hold on Bitcoin in cold storage; Pennsylvania, which could invest up to 10% of its funds in Bitcoin; and Ohio, where a proposed act allows discretionary Bitcoin purchases. New Hampshire and Wyoming also contemplate investments in Bitcoin, with specific conditions and allocated proportions. Massachusetts and Oklahoma are similarly exploring legislative frameworks to facilitate cryptocurrency investments. New Mexico recently proposed allocating 5% of public funds to Bitcoin as well. Other states like Kentucky and Alabama are in the early stages of legislation that would enable public funds to be directed towards cryptocurrencies. These legislative efforts reflect a broader trend of governmental interest in cryptocurrency as a means of financial diversification and modernization. Each proposal has unique parameters regarding investment limits, custody solutions, and the types of funds eligible for Bitcoin investment.

Source 🔗