- Three U.S. states propose legislation to establish Bitcoin reserves in their treasuries.
- Pennsylvania’s proposal allows for investment of up to 10% of state funds, potentially worth $1 billion.
- Texas mandates 5-year minimum holding period and cold storage requirements for Bitcoin reserves.
- Ohio’s Bitcoin Reserve Act grants discretionary purchasing power to the State Treasurer.
- State initiatives follow Donald Trump‘s national Bitcoin reserve proposals.
U.S. States Move to Create Bitcoin Reserves Amid Price Rally
Three U.S. states have introduced legislation to establish Bitcoin reserves in their state treasuries, following former President Donald Trump’s advocacy for national cryptocurrency holdings. The initiatives from Texas, Pennsylvania, and Ohio represent the first coordinated state-level push toward governmental Bitcoin adoption.
State-Level Bitcoin Integration
Pennsylvania leads with the most substantial commitment, proposing to invest up to 10% of its State General Fund in Bitcoin. The legislation would permit nearly $1 billion in cryptocurrency purchases, making it the largest proposed state-level cryptocurrency investment in U.S. history.
Texas Representative Giovanni Capriglione’s bill includes strict security measures, requiring:
- Minimum five-year holding period
- Cold storage implementation (offline storage devices)
- Restriction on cross-border transactions
- Public donation options
Strategic Financial Planning
Ohio’s approach, spearheaded by Representative Derek Merrin, focuses on establishing a framework for Bitcoin integration. Merrin emphasized the need to _”protect tax dollars from eroding”_ through cryptocurrency investment.
The state proposals reflect growing institutional acceptance of Bitcoin as a treasury asset. Financial analysts suggest these initiatives could prompt other states to consider similar measures, particularly as Bitcoin’s market value continues to reach new highs post-Election Day.
These legislative efforts mark a shift in state-level financial strategy, with governments exploring cryptocurrency as a potential hedge against inflation. The proposals include varied approaches to implementation, security protocols, and investment limits, establishing precedents for future state-level cryptocurrency adoption.
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