Montana, Michigan, and North Carolina to Consider Establishing Bitcoin Reserves
Lawmakers in three U.S. states received proposals to establish Bitcoin reserves, while two states already reviewed and rejected similar initiatives.
The legislatures of Montana, Michigan, and North Carolina are set to review bills proposing the creation of Bitcoin reserves. Specifically:
- The Montana State Legislature will consider a bill proposing an investment of up to $50 million in Bitcoin.
- The North Carolina General Assembly referred the relevant document to the House Committee on Commerce and Economic Development for review.
- Michigan lawmakers will study a proposal to invest up to 10% of total reserves in Bitcoin and other cryptocurrencies.
Moreover, lawmakers in Texas reintroduced a bill to establish a strategic reserve based on digital assets. The revised proposal now includes investments not only in Bitcoin but also in other cryptocurrencies with a market cap of at least $500 billion over the past 12 months.
At the federal level, the U.S. is unlikely to approve Bitcoin as a strategic reserve in 2025. This practice is expected to be adopted later, as the country’s current priority is regulating the cryptocurrency market, according to Max Krupyshev, CEO of CoinsPaid , in a commentary to CP Media.
According to Bitcoin Reserve Monitor, the total number of U.S. states reviewing Bitcoin reserve bills rose to 21. In Utah and Arizona, similar proposals were already approved by relevant committees and are now awaiting legislative votes.
Meanwhile, two states rejected such initiatives, North Dakota and Wyoming. Notably, Wyoming is generally supportive of Web3 initiatives. For example, it was one of the first jurisdictions worldwide to grant decentralized autonomous organizations (DAO) official legal status .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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