Maryland proposes Bitcoin reserve fund, boosts state adoption of cryptocurrency

• State wants to include Bitcoin as a financial reserve
• Gambling fines can be converted into BTC
• More US states consider adopting cryptocurrencies

Maryland State Representative Caylin Young has introduced a bill that proposes the creation of a strategic Bitcoin reserve in the state. The measure seeks to integrate the cryptocurrency into the public purse as a way to diversification financial security and protection against inflation. If approved, the initiative will allow the state to invest part of its funds in Bitcoin, making it a reserve asset.

🚨 NEW: MARYLAND BITCOIN RESERVE BILL

MD House Bill 1309 was introduced today by Del. Caylin Young ( @YoungDelegate ).

Maryland is the 17th state to introduce Bitcoin Reserve legislation! pic.twitter.com/96EXfrkGZr

— Julian Fahrer (@Julian__Fahrer) February 7, 2025

The bill also authorizes the State Treasurer to allocate funds collected from fines imposed in cases of gambling-related infractions to Bitcoin. The proposal follows a trend observed in several US states, which are seeking to explore the potential of Bitcoin as an institutional investment.

At the time of publication, the price of Bitcoin was quoted at US$97.781,01, up 1.5% in the last 24 hours.

In recent months, Kentucky introduced a similar bill, allowing up to 10% of the state’s excess reserves to be allocated to digital assets. In doing so, it became the 16th U.S. state to consider legislation aimed at Bitcoin reserves. Other states, including Texas, Florida, Arizona and Missouri, are also considering proposals to include the cryptocurrency in their financial portfolios.

MARYLAND – ON THE MAP! https://t.co/bmOo7KyyP0 pic.twitter.com/aSBSes9Tri

— Bitcoin Laws (@Bitcoin_Laws) February 7, 2025

The growing adoption of Bitcoin by state governments reinforces the recognition of cryptocurrency as a legitimate tool for diversifying public investments. Maryland’s initiative could encourage other regions to follow suit, solidifying BTC as a strategic asset in the US financial landscape.

The bill has been filed with the Maryland House of Representatives and is awaiting review by the relevant committees before moving forward in the legislature. If approved, the state could become one of the pioneers in adopting Bitcoin as a government reserve, further strengthening its presence in the institutional sector.