So, it turns out that nearly two dozen US states are suddenly having a bit of a love affair with Bitcoin. Who knew? It’s like watching your grandma discover TikTok—unexpected and slightly alarming! 😳
According to the investment wizards at VanEck, if these states get their act together and pass some bills, they could collectively snag around 247,000 BTC. That’s a whopping $23.7 billion! I mean, who needs a rainy day fund when you can have a Bitcoin fund, right? ☔️💸
Why are states suddenly all about Bitcoin? Well, it seems state-managed funds are considering Bitcoin (BTC) for a few reasons:
- Inflation Hedge: Often dubbed “digital gold,” Bitcoin is like that friend who always has your back when things get tough—currency devaluation, we’re looking at you!
- Diversification: Cryptocurrencies are like that quirky cousin who doesn’t fit in with the family—operating independently of traditional financial markets.
- Growth Potential: Bitcoin’s historical appreciation is like a rollercoaster ride—thrilling and potentially lucrative! Galaxy Digital’s Alex Thorn thinks it could hit $185,000 by the end of 2025. Buckle up! 🎢
Now, let’s take a cheeky peek at the states that are already strutting their Bitcoin stuff:
Table of Contents
Alabama
In a moment of sheer brilliance, State Auditor Andrew Sorell declared that Alabama should establish a strategic Bitcoin reserve. “Crypto is here to stay,” he proclaimed. Well, that’s one way to make a statement! 🙌
Arizona
Last month, the Arizona Senate Finance Committee gave a thumbs up to the “Arizona Strategic Bitcoin Reserve Act.” It’s like a digital treasure hunt, but with public funds! 🏴☠️
Florida
Florida CFO Jimmy Patronis is on a mission to explore the feasibility of investing state retirement funds into cryptocurrency. Because why not mix a little sunshine with some digital currency? ☀️💰
Kansas
In a bold move, Kansas might allow its Public Employees Retirement System to invest up to 10% of its $27.4 billion assets in Bitcoin ETFs. Talk about a wild west of investments! 🤠
Illinois
Illinois is fast-tracking a Bitcoin Strategic Bill. Because nothing says “let’s get serious” like accepting BTC donations from residents! 💸
Iowa
Iowa State Rep. Taylor Collins is diving headfirst into the Bitcoin pool with a bill to invest public money into digital assets. Cannonball! 💦
JUST IN: 🇺🇸 Iowa State Rep. Taylor Collins introduces bill to invest public money into Bitcoin and digital assets
— Bitcoin Magazine (@BitcoinMagazine) February 6, 2025
Massachusetts
State Sen. Peter Durant is ready to invest the state’s surplus funds into Bitcoin. Because who needs a budget surplus when you can have Bitcoin? 💁♀️
Michigan
Michigan’s Retirement System is already holding 110,000 shares of the ARK 21Shares Bitcoin ETF. That’s one way to keep your retirement fund spicy! 🌶️
Missouri
Missouri is looking to establish a Bitcoin Strategic Reserve Fund. Because why not hedge against inflation with a little digital currency? 🤑
Montana
Montana wants to invest up to $50 million in digital assets. That’s a lot of cowboys and Bitcoin! 🤠💵
🚨 NEW: MONTANA BITCOIN RESERVE BILL
MT House Bill 429 would authorize up to $50m invested into ‘digital assets over $750b market cap’ i.e. Bitcoin, by July 15 2025.
— Julian Fahrer (@Julian__Fahrer) February 8, 2025
New Hampshire
New Hampshire’s Rep. Keith Ammon is proposing legislation to allow the state treasury to hold Bitcoin. Because who doesn’t want a little crypto in their pocket? 🪙
New Jersey
Jersey City Mayor Steven Fulop hinted at plans for the city’s pension fund to dabble in Bitcoin ETFs. It’s like a secret club, but with more spreadsheets! 📊
Not my normal subject matter in a post but I’ll share anyway – the question on whether Crypto/Bitcoin is here to stay is largely over + crypto/Bitcoin won. The #JerseyCity pension fund is in process of updating paperwork to the SEC to allocate % of the fund to Bitcoin ETFs…
— Steven Fulop (@StevenFulop) July 25, 2024
New Mexico
New Mexico is getting in on the action with a proposed 5% allocation of public funds into Bitcoin. Because why not? 🎉
North Carolina
North Carolina is studying the feasibility of incorporating Bitcoin into state holdings. It’s like a research project, but with more excitement! 📚✨
North Dakota
North Dakota is proposing to invest state funds into digital assets. Plus, they’re looking to protect the rights of Bitcoin miners. Because everyone deserves a little love! 💖
BIG BREAKING: I can confirm that a bill to protect the rights of Bitcoiners has been introduced in the state of North Dakota by Rep. Toman.
This bill will protect the:
– Right-to-Mine
– Right Self-Custody
– Right to Peer-2-peer Transactions
– Right to Run a Node— Dennis Porter (@Dennis_Porter_) January 31, 2025
Ohio
Ohio is proposing to allocate up to 10% of state-controlled funds toward a Bitcoin reserve. Because who doesn’t want to ride the Bitcoin wave? 🌊
Pennsylvania
A bill from November 2024 sought to authorize the state treasurer to invest in Bitcoin. It didn’t pass, but hey, at least they tried! 🙈
South Dakota
South Dakota is looking to allow public funds to be invested in Bitcoin. Because why not throw a little crypto into the mix? 🎊
Texas
Texas is creating a Bitcoin reserve separate from the state’s general revenue fund. They’re also collecting taxes in cryptocurrency. Everything’s bigger in Texas, including their Bitcoin ambitions! 🤠💰
Utah
Utah’s digital asset taskforce is dedicated to voting on crypto-related bills. Because who doesn’t want to be part of the digital revolution? 🚀
Wisconsin
Wisconsin is the first state to buy Bitcoin ETFs. They’re holding 3.1 million shares of BlackRock’s iShares Bitcoin Trust. Talk about a bold investment strategy! 🧀💵
Wyoming
Wyoming is aiming to allow up to 3% of state funds to be invested in Bitcoin. It’s like a digital gold rush, and they’re ready to strike it rich! ⛏️
What’s Next?
With all this momentum, Bitcoin’s role in state investment strategies is evolving faster than you can say “blockchain.” If more states jump on the bandwagon, Bitcoin could soon be the hottest asset in public pension funds across the country. Stay tuned! 📺
Read More
- We’re Terrible At Organizing Things.’ Tom Holland Reveals The Sweet Holiday Scheme He And Zendaya Are Going To Try Next Year
- Path of Exile 2: How To Find & Unlock the Realmgate
- NewsNation Taps Leland Vittert to Replace Dan Abrams
- Million-Dollar Crypto Scandal: Abra Pays Up in SEC Settlement
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Girls Frontline 2 Exilium tier list
- Chanel Showcases Apichatpong Weerasethakul’s Immersive Exploration of Memory and Light
- Joel McHale Joined Scream 7 And His Role Destroys A Popular Fan Theory
- Yarrow Slaps’ Distorted Celebrity Portraits Take Center Stage in New Video Game-Inspired Show
- Ilana Glazer, Clark Gregg Join Broadway Cast of George Clooney’s ‘Good Night and Good Luck’
2025-02-16 22:37