Donald Trump and his political allies are plugging away at plans to stockpile Bitcoin at a national level in the U.S. Treasury.

And now, with the asset’s price repeatedly soaring to new peaks since Election Day, some U.S. states are following suit.

So far, five states are fielding proposals to establish strategic Bitcoin reserves, while digital asset advocates are calling for other local governments to do the same.

Bitcoin Strategic Reserve Is Now on the Table—Here’s How It Could Work

Now that Donald Trump is set to become the next president of the United States, a strategic Bitcoin reserve is in the cards. The idea was teased by Trump and several other U.S. politicians in July and early August, but lost steam following a Bitcoin price crash. One of those prominent voices is that of Senator Cynthia Lummis, a Republican from Wyoming who has been called the “Bitcoin Senator” for her vocal support of the crypto industry. She shared strategic reserve plans at the Bitcoin conferen…

Here’s which states are considering topping up their coffers with the world’s oldest and most valuable digital currency.

Texas

Texas legislators will soon weigh in on whether or not they should establish a strategic Bitcoin reserve.

Texas State Representative Giovanni Capriglione proposed a bill in December 2024 that calls for the Lone Star State to create a Bitcoin stockpile.

The draft legislation stipulates that Texas must hold the Bitcoin for at least five years. The cryptocurrency must be kept in cold storage—that is, on some kind of a device that is not connected to the internet—and the assets cannot be used to make transactions outside of Texas, according to the bill.

Texas Legislator Introduces Bill to Establish Bitcoin Strategic Reserve

The Texas legislature will consider adopting a Bitcoin strategic reserve following the introduction of a bill Thursday to establish such a program, amid ongoing efforts to do the same on a national level in the United States. The proposed bill, H.B. No. 1598, was introduced by Texas State Representative Giovanni Capriglione. It seeks to build up a supply of Bitcoin for the state, with the funds held for at least five years without being sold, plus it will allow Texas citizens to make donations t…

“A strategic Bitcoin reserve aligns with Texas’s commitment to fostering innovation in digital assets and providing Texans with enhanced financial security,” the bill reads.

Finally, the proposal also enables Texans to donate to the state’s Bitcoin fund.

Pennsylvania

The Pennsylvania House of Representatives put forth a bill in November 2024 that called for the establishment of a strategic Bitcoin reserve.

Under the Bitcoin bill, Pennsylvania’s Treasurer would be able to buy Bitcoin with “up to 10%” of the State General Fund, Rainy Day Fund, and the State Investment Fund.

Pennsylvania Lawmakers Want a Strategic Bitcoin Reserve

House Representatives in Pennsylvania have put forward a bill that would see a strategic Bitcoin reserve introduced at the state level. This comes after noise around a potential national Bitcoin reserve were amplified following Donald Trump securing reelection as President of the United States. The bill would allow the state Treasurer to invest “up to 10%” of the State General Fund, Rainy Day Fund, and the State Investment Fund into Bitcoin. This is a move to protect Pennsylvania’s funds against…

Tapping 10% of the State General Fund would allow the Pennsylvania Treasury to purchase nearly $1 billion worth of Bitcoin.

“Bitcoin, which has appreciated significantly over the years, can help Pennsylvania keep pace with inflation and economic change,” the state’s lawmakers said in a legislative memo published on November 12.

Ohio

Ohio State Representative Derek Merrin on December 17, 2024 proposed a bill to establish a strategic Bitcoin reserve in the Buckeye State.

The Ohio Bitcoin Reserve Act calls for the creation of a Bitcoin fund in the state Treasury. It also vests Ohio’s State Treasurer with discretionary power to purchase the asset.

Ohio Representative Derek Merrin Introduces Bill to Establish State Bitcoin Reserve

Ohio State Representative Derek Merrin is following in the footsteps of other representatives across the U.S., bringing forward a bill that would authorize the state’s treasury to invest public funds in Bitcoin. House Bill 703, known as the Ohio Bitcoin Reserve Act, would establish a dedicated Bitcoin fund within the state treasury while investing the State Treasurer with discretionary power to purchase the crypto. “The U.S. Dollar is being rapidly devalued, and our State Treasurer should have t…

“Ohio must embrace technology and protect tax dollars from eroding,” Merrin said Tuesday in an X post.

Although some details of how the reserve will work remain unclear, the draft legislation is expected to serve as a framework for Ohio lawmakers to build out in 2025.

New Hampshire

New Hampshire Rep. Keith Ammon set forth a bill on January 10, 2025 to enable the state’s Treasury to invest in Bitcoin. While Bitcoin is not mentioned by name in the bill, it’s the only cryptocurrency that would currently be eligible based on the high market cap requirements.

“We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class,” Ammon told Decrypt.

‘Live Free or Die’: New Hampshire the Latest State to Consider Bitcoin Reserve Bill

New Hampshire Rep. Keith Ammon (R) proposed a bill Friday that would enable the state’s Treasury to invest a portion of public funds into digital assets and precious metals. Not only would the move insulate the Granite State from the threat of runaway inflation, but it would also dovetail with some of New Hampshire’s cultural values, Ammon told Decrypt. “The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” he said. “We’re tied to the U…

Under the bill, New Hampshire’s treasurer would also have the authority to engage in “lending or staking” practices.

“The state that is last to build Bitcoin reserves will lose,” Ammon added. “It’s urgent that states act sooner than later, and that takes some education on the part of state officials.”

North Dakota

North Dakota legislators put forth a resolution on January 10, 2025 to invest selected state funds in digital assets.

North Dakota Considers Crypto Reserve as State Bitcoin Treasuries Gain Momentum

North Dakota is the latest U.S. state to consider including Bitcoin in its balance sheets. On Friday, the North Dakota State Legislature introduced a resolution aimed at investing “select state funds in digital assets and precious metals.” Resolution 3001 aims to curb the impact of inflation on North Dakota’s finances by diversifying the assets the state invests in. North Dakota Representatives Nathan Toman, Matthew Heilman, Jared Hendrix, Daniel Johnston, SuAnn Olson, and Todd Porter, along wit…

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The initial resolution will be followed by discussion in the coming days, which could result in a proper bill being drafted and submitted. No specific assets are mentioned in the brief resolution, but North Dakota Legislative Council Director John Bjornson told Decrypt that such definitions would be “more appropriate for a bill.”

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