Massachusetts Joins 8 States Pushing Bitcoin Reserve Laws!

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15 U.S. states such as Massachusetts were allegedly drafting laws concerning Bitcoin reserves, a few days prior to Donald Trump’s inauguration.

A proposal for creating a Bitcoin (BTC) reserve within Massachusetts has been put forward by State Senator Peter Durant, thereby becoming the eighth American state to consider this type of bill, as increasing curiosity about cryptocurrency coincides with the arrival of a pro-Bitcoin president.

Senator Durant’s Strategic Bitcoin Reserve bill suggests an increase in state-level Bitcoin adoption as a possible trend prior to Donald Trump’s potential return to the White House.

8 U.S. states have passed laws to establish a Strategic Bitcoin Reserves, with more on the way. The victories are just getting started. 🇺🇸

— Dennis Porter (@Dennis_Porter_) January 17, 2025

Policy leaders are urging other legislators to back SBR plans across more than a dozen states, with Texas being one of them. Notably, Texas hosts at least 27 Bitcoin mining facilities as per the Texas Blockchain Council, and it’s one of the three most robust regional economies in the U.S.

These states – Wyoming, Oklahoma, New Hampshire, Ohio, and Pennsylvania – have officially proposed legislation to set up Bitcoin reserves.

As a forward-thinking crypto investor, I’m thrilled to announce that eight U.S. states have enacted legislation to establish Strategic Bitcoin Reserves! More jurisdictions are joining the movement. The best is yet to come! 🇩🇪🇯🇵🇨🇦🇮🇳…and many more! This marks just the beginning of our victories in the world of digital currency!

— Dennis Porter (@Dennis_Porter_) January 17, 2025

It’s unclear if individual states will enact an SBR law ahead of the federal government. Meanwhile, in Washington D.C., Senator Cynthia Lummis, along with other influential congress members, are gathering backing for a nationwide Bitcoin reserve.

Lummis proposed modifying laws within the Treasury Department, aiming to allow the U.S. government to hold Bitcoin on its official accounts.

As I count down the days towards January 20th, whispers of influential figures attempting to persuade President Trump to issue an executive order concerning Bitcoin have become more prevalent. Notably, a council headed by White House’s crypto-lead David Sacks has emerged as a significant focus for blockchain proponents, marking it as a key priority in their advocacy efforts.

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2025-01-18 00:48