Missouri State Representative Ben Keathley has introduced HB 1217, a bill to create a Bitcoin Strategic Reserve Fund. It will allow the state treasurer to “receive, invest, and hold Bitcoin under certain circumstances.” The bill, filed on February 6, marks Missouri’s entry into the growing trend of U.S. states considering Bitcoin as a reserve asset.
Missouri Bitcoin Reserve Bill Gains Traction
Keathley’s proposal follows a similar move in Maryland, where State Delegate Caylin Young introduced the Strategic Bitcoin Reserve Act of Maryland on February 7. The bill seeks to establish the Maryland Bitcoin Reserve Fund, designed to hold Bitcoin as a reserve asset for the state. According to the bill’s synopsis, the fund will be financed through penalties collected from “the enforcement of certain gambling violations.”
The Bitcoin reserve trend has gained momentum as states explore alternative financial strategies amid concerns over inflation and the U.S. dollar’s long-term stability. By investing in Bitcoin, these states aim to create a hedge against economic uncertainty while diversifying their financial holdings.
Neither Missouri’s HB 1217 nor Maryland’s Strategic Bitcoin Reserve Act has been scheduled for a hearing yet. However, their introduction signals increasing institutional interest in Bitcoin at the state level. If passed, these bills could set a precedent for other U.S. states to follow.
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