Massachusetts has become the eighth state in the United States to propose legislation establishing a Bitcoin reserve, as reported by Naga Avan-Nomayo on January 17, 2025. This move comes just days before the inauguration of Donald Trump, who is seen as a pro-Bitcoin president.
State Senator Peter Durant introduced a bill to establish a Bitcoin treasury in Massachusetts, signaling a growing trend of state-level adoption of the cryptocurrency. The Strategic Bitcoin Reserve bill introduced by Sen. Durant is part of a larger movement, with a total of 15 U.S. states reportedly working on similar legislation.
The push for Bitcoin reserves is not limited to Massachusetts. States like Texas, Wyoming, Oklahoma, New Hampshire, Ohio, and Pennsylvania have also formally introduced laws to establish BTC reserves. Texas, in particular, is home to 27 Bitcoin mining operations and is one of the three largest local economies in the country.
While state-level initiatives are gaining momentum, the question remains whether federal legislators will follow suit. Senator Cynthia Lummis and other crypto allies in Congress are advocating for a national Bitcoin reserve, with suggestions to change laws at the Treasury to allow holding BTC on the U.S. government’s balance sheet.
In the lead-up to Trump’s return to the White House, reports have emerged of industry leaders lobbying for an executive order on Bitcoin. A council led by White House crypto czar David Sacks has also been identified as a key priority for blockchain advocates.
The introduction of Bitcoin reserve legislation in multiple states reflects the increasing interest and adoption of cryptocurrencies in the United States. As the debate over Bitcoin reserves continues at both the state and federal levels, the future of cryptocurrency regulation in the country remains uncertain.