The American State lists accept Bitcoin reserves growing
Almost two dozens of American countries are investigating legislation to establish strategic reserves Bitcoin, signals a significant crossing of how public funds approach cryptocurrencies.
The Vaneck investment firm estimates that these accounts would be made, states could collectively acquire about 247,000 BTCs, in price of about 23.7 billion dollars per current priced.
Why do states invest in Bitcoin? Means managed by state management consider Bitcoin (Btc) For a number of reasons:
- Inflation, is often called “digital gold”, Bitcoin has long been overwhelmed in protection against currency devaluation.
- Diversification: Criptocurrencies, in general, act independently of traditional financial markets.
- Growth Potential: The historical gratitude of Bitcoin suggests potential for high return over time. Galaxy Digital’s Head Research Alex Thorn said bitcoin price could reach Level of $ 185,000 to end of 2025.
Here’s a look at the countries that already make moves towards Bitcoin investments:
Alabama
In December, State Auditor Andrew Sorell told 1819. News that Alabama should establish the strategic Bitcoin Reserve. “Cripto is here to stay,” Sorell said. “Nearly 500 million people around the world is cryptocurrency. Discussing whether the crypto will succeed in completing. Now the struggle will benefit from it now.”
Arizona
Last monthThe Arizona Senate Finance Committee has approved “Arizona Strategic Composition of BitCoin Reserve”, in voting from 5-2. The bill allows up to 10% of Arizona public funds invested in Bitcoin and other digital property. Then the bill is switched to the Senate Rules Committee for discussion and amendments. If he passed the full Senate, it will be submitted to Arizona representatives.
Florida
Florida CFO Jimmy Patronba has issued a letter The Administration State Board in October requires a feasibility report, risk and potential benefits to directing part of the state retirement system in cryptocurrency. “When you manage state pensions for firefighters, teachers and police officers, is also essential for the priority of the lower line and ensure the best investment return for Floridians,” Patronba said. “Here is the potential of investment in cryptocurstity like Bitcoin, it becomes particularly convincing.”
Kansas
In January, pensions and investments export Yes, if a new account is introduced to Kansas State Senate, in the retirement system Kansas, Topek, will be able to invest up to 10% of $ 27.4 billion in Bitcoin ETFS.
Illinois
29. January, Strategic account Bitcoin was instructed The Rules Committee to quickly monitor its approval procedure. The state play Illinois John Cabello has introduced a bill to establish Bitcoin as a strategic tool for the state. According to the legislation, the State Treasurer of Illinois was managed by the fund, accepting gifts, grants and BTC donations of residents and government entities.
Iowa
Earlier this month, the state play Iowa Taylor Collins introduced an account to invest public money in Bitcoin and digital property. Look down.
Massachusetts
Sen. Peter Durant, Republican who introduces Vorcester and Hampshire County, recently presented account This would invest that state unusual or unusual excess funds in Bitcoin and other digital currencies.
Michigan
Last year, Michigan Pension System found that the owner of 110,000 ARK shares 21Shares BitCoin ETF, worth $ 30 from 30. June, in relation to A 13F filing With US Securities and Earth Exchange Commissions.
Missouri
Representative Missouri Ben Keathlei introduced Home ACCOUNT 1217. Year to be established by the Bitcoin Strategic Fund that would allow the civilian treasurer to invest in and hold Bitcoin. The accountFebruary 6, February, positioning Bitcoin as a fence against inflation and aims to diversify the financial farms of the state.
Montana
Montana legislators want to invest up to $ 50 million of digital property, including Bitcoin.
New Hampshire
A new account that introduced the tail. Keith Ammon could allow New Hemphira’s cash register to hold Bitcoin as spare means. Keith Ammon Republic Representative proposed Legislation that would allow the State Treasury to the BTC detention.
New Jersey
In July 2024. year, the mayor of Jersey Steven Fulop indicated that the city pension fund planned to get exposure to Bitcoin ETFS. At that time, Bitcoin traded $ 67,000. Fulop has remained relatively calm on the topic since then.
New Mexico
Recently is a recent Senator Mexico Anthony Thornton composed The 275 or “Strategic BitCoin Reserve Act” holder suggests from 5% distribution of state public funds in Bitcoin.
North Carolina
At the beginning of 2023. the lower house of the North Caroline General Assembly approved Draft law for proposing that the State Treasurer’s State Department conducts a study for assessing the feasibility of the installation of Bitcoin in state farms. Fast forward until 10. February 2025. years: cointelegraph reports that the investment law for NC digital property is introduced. Allows the state to invest in digital assets through foreign currency products.
North Dakota
Earlier this month, the State’s legislature presented the Resolution 3001, proposing to invest state funds into digital property. North Dakota Representative Nathan Toman also buttock Prelosal of the Law on Protection of the Right of Bitcoin Miners.
Ohio
Ohio House GOP majority whip Steve Demetriou proposed Legislation for awarding to 10% of countries under state control according to Bitcoin Reserve. He also stressed that Bitcoin could use the huge natural gas reserves in Ohio to meet energy demand.
Pennsylvania
Draft Law from November 2024. He sought to authorize the civilian treasurer and public pension funds to invest in Bitcoin. The bill did not pass, but has created a significant discussion.
South Dakota
South Dakota Household Bill 1202If it passes, the state of the government will allow public funds in Bitcoin. It was introduced by the Trial Representative Logan Manhart.
Texas
Senate 778 holder is intended to create reserves Bitcoin separately from the General State Revenue Fund. That would collect Taxes and donations in cryptocurrency. More than that, Texas has a minimum of five-year embargo for sale of state bitcoin.
Utah
Satoshi ACT Fund and CEO, Dennis Porter told Republican Senator Sinthia Lummis that Mask’s digital Masfer for digital property is dedicated specifically to vote on accounts related to crypto and Web3 during the season.
“Every single account that came out of that working group eventually brought to the Law in the last few years, and our strategic Bitcoin reserved legislation has just passed from that working group”, Porter said In February.
Wisconsin
First American state to buy Bitcoin ETFS. K4 2024. year, the state of the investment board of Wisconsin (SVIB) held 3.1 million shares of Blackrock’s Ibit Bitcoin Trust (IBIT), worth about $ 588 million.
Initially invested in the Graiscale BitCoin ETF before the investment expansion.
Vioming
Vioming Lawmakers goal In order to allow up to 3% of state funds to invest in Bitcoin. The account It would be applied to key resources, such as the General Fund and Permanent Mineral Fund, marking a potential milestone in public funds management. If approved, the civilian treasurer could directly invest in Bitcoin through secure guardianship, registered guards or exchanges.
What’s next?
With the growth of swing, the role of Bitcoin in state investment strategies develops. If more states move forward legislation, Bitcoin could soon become key assets in public pension funds across the country.
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2025-02-16 22:26:00
