Financial Insights That Matter
- US states are racing to establish Bitcoin reserve legislature.
- North Carolina and South Dakota are among those pushing for state-backed Bitcoin holdings.
- At least 18 states in total are exploring Bitcoin investments.
Donald Trump’s embrace of Bitcoin — including his call for a strategic Bitcoin reserve — has set off a wave of state-level initiatives to integrate the leading cryptocurrency into public investment strategies.
Florida is pushing ahead with plans to integrate Bitcoin into its public investment strategy, as lawmakers introduce Senate Bill 550.
The bill, sponsored by Senator Joe Gruters, would authorise the state to allocate up to 10% of certain public funds into Bitcoin, citing its potential as a hedge against inflation.
If passed, the measure would allow Florida’s Chief Financial Officer to hold Bitcoin through qualified custodians, exchange-traded products, or direct ownership.
Florida isn’t alone in this push. Arizona’s legislature is also moving forward with a proposal to establish a state Bitcoin reserve.
The Strategic Bitcoin Reserve Act, led by Senator Wendy Rogers and Representative Jeff Weninger, recently saw approval from the Arizona Senate Finance Committee.
The bill, now under review by the Senate Rules Committee, would enable state agencies and public funds to store Bitcoin in a designated reserve.
It also proposes allowing pension funds to gain Bitcoin exposure amid growing interest in crypto-backed savings options.
Join the community to get our latest stories and updates
North Carolina and South Dakota are also in the exploratory phases. North Carolina’s House Speaker staff recently met with industry advocate Dan Spuller, who claimed the state intends to take the “top spot” in Bitcoin reserves.
Meanwhile, South Dakota Representative Logan Manhart announced plans to introduce a bill, arguing that “now is one of the few chances government has at being proactive.”
There are currently at least 18 states exploring Bitcoin investments.
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at [email protected].
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.