After Mr. Know-it-all signed, which states in the U.S. are "obediently" advancing Bitcoin strategic reserve bills?

Arizona sets the benchmark for other states, followed closely by Texas, Alabama, and others.

Written by: Penny

On April 29, two Strategic Bitcoin Reserve Bills in Arizona passed the final vote in the House and are awaiting signature from Democratic Governor Katie Hobbs, making Arizona the first state in the U.S. to require public funds to invest in Bitcoin. The bill SB 1373 proposes the establishment of a digital asset strategic reserve fund managed by the state treasurer, allowing up to 10% of funds to be invested in Bitcoin and other digital assets each fiscal year; the bill SB 1025 allows the state treasury and pension systems to invest up to 10% of available funds in virtual currencies, focusing on Bitcoin.

At the federal level, Trump signed an executive order in March requiring the establishment of a strategic Bitcoin reserve and a digital asset inventory. The Arizona state government has incorporated cryptocurrency into public finance management, reflecting the growing mainstream recognition of digital assets. According to data from the bill tracking site Bitcoin Laws, 26 states in the U.S. have proposed bills to create a Bitcoin reserve, and the following are the progress of bills in other states besides Arizona.

Clearly Supported States

Except for Arizona, which has passed the bill, the legislative agendas of Texas, Alabama, and Minnesota are also steadily making progress.

Texas

Texas has shown bipartisan support in Bitcoin reserve legislation. The Senate has passed the Strategic Bitcoin Reserve Act (SB-21), allowing the use of public funds to purchase Bitcoin and other high-market-cap cryptocurrencies, aiming for a holding scale of $500 billion, with plans to allocate $250 million from the Economic Stabilization Fund. Additionally, the House proposed HB4258 further authorizing local governments to invest in cryptocurrencies, demonstrating the comprehensiveness of its legislative framework. Currently, the bill has been submitted to the state's Government Efficiency Delivery Committee, and if it successfully passes both houses of the state legislature to become law, it will take effect on September 1 of this year.

Texas has long shown support for cryptocurrencies. In 2021, the Texas Legislature established the "Texas Working Group" to focus on blockchain development and attract a large number of bitcoin mining companies to settle in Texas with its abundant and cheap energy. For example, Riot Blockchain's Whinstone facility, operated in Rockdale, has become the largest single bitcoin mining hub in North America.

Lieutenant Governor Dan Patrick stated: "Bitcoin is digital gold, and its limited supply and decentralized nature will become a key asset for Texas in the future." According to Bitcoin Magazine, there are currently 8 bills related to Bitcoin or cryptocurrencies proposed in Texas. Among these eight bills, HB4258 is the fifth bill submitted for committee review. Including this bill, four of the bills (HB4258, HB1598, SB21, and SB778) all call for Texas to establish a strategic Bitcoin reserve.

Alabama

Alabama Republican Senator April Weaver submitted Senate Bill 283 (SB 283) in early April, alongside House Bill 482 (HB 482) proposed since March 2025, setting a threshold of "market value of $750 billion" (currently only Bitcoin qualifies), indirectly locking Bitcoin as a reserve asset. Moreover, cryptocurrency assets must be directly managed by the state treasurer and cannot exceed 10% of the state budget. If the bill passes, it will take effect on October 1, 2025.

Minnesota

Minnesota Republican Representative B. Olson submitted House Bill No. 2946 (HF 2946) on April 1, 2025, known as the Minnesota Bitcoin Act. The corresponding Senate Bill SF 2661 has been submitted since March 2025. The two bills are identical and allow the state investment board to allocate public funds to Bitcoin, accept BTC as a method of payment for taxes and government transactions, and amend 12 existing laws, including tax codes, retirement plans, and investment regulations to integrate cryptocurrency. If the bill is passed, it will take effect on January 1, 2026.

Steadily Advancing State

New Hampshire

New Hampshire's bill is HB302, introduced by Republican Congressman Keith Ammon and has bipartisan support. The bill would allow state treasurers to invest up to 5% of state public funds (based on general funds, income stabilization funds, etc.) in eligible digital assets or precious metals (e.g., gold, silver) from 10% on an initial proposal and later reduced to 5% due to security concerns. On April 10, 2025, the bill passed a plenary vote in the House of Representatives with 192 votes in favor and 179 against, with state treasurer Monica Mezzapel saying that if the bill goes into effect, it will launch a pilot investment, which could be $180 million initially.

Ohio

On January 28, 2025, Senator Sandra O'Brien introduced the Ohio Bitcoin Reserve Act SB57, which authorizes the state treasury to directly invest in Bitcoin, stipulates that Bitcoin must be held for at least five years, and requires state agencies to accept cryptocurrency payments. It also allows state residents, institutions, and universities to donate Bitcoin to the reserve fund. On January 29, it was submitted to the Senate Committee on Financial Institutions, Insurance, and Technology, and it is currently still under review by the committee, with no further progress.

Utah

In early 2025, Utah State Representative Jordan Teuscher introduced a bill named HB0230 on January 21, titled "Blockchain and Digital Innovation Amendments." The bill initially allowed the state treasurer to invest up to 10% of public funds in digital assets, including Bitcoin, non-fungible tokens (NFTs), and stablecoins, but was subject to conditions such as regulatory approval, market capitalization, and liquidity. On March 10, 2025, the Utah Senate passed HB0230, but removed the key provision allowing the state treasurer to invest in Bitcoin, instead providing rights for residents regarding digital asset custody protection, mining rights, running nodes, and participating in staking.

The provisions for direct state investment in Bitcoin have been removed, reflecting lawmakers' concerns about market risks. Senator Kirk A. Cullimore stated at a meeting on March 7 that the removal of the reserve clause was due to "numerous concerns regarding the early adoption of these policies." As of now, Utah has not established a state-level Bitcoin reserve, but instead has shifted its legislative focus to the regulation of digital assets and innovation protection.

Florida

The HB 487 bill from Florida was introduced in February 2025, allowing the state chief financial officer and the state administrative board to invest up to 10% of public funds, including the general revenue fund and budget stabilization fund, in Bitcoin. On April 10, it entered the government operations subcommittee for review with unanimous support (no opposing votes) from the House Insurance and Banking Subcommittee. It is currently in the review stage of the government operations subcommittee, and no further progress has been made.

In addition, there are Bitcoin reserve bills being proposed or advanced in 13 states, including Iowa, Missouri, Georgia, Illinois, Kansas, Kentucky, Maryland, Massachusetts, Michigan, New Mexico, North Carolina, Rhode Island, and West Virginia, and they have not been explicitly rejected or shelved.

Denial Suspension State

Oklahoma

On January 15, 2025, Cody Maynard of Oklahoma introduced the HB1203 bill, aimed at allowing the state reserve fund and retirement funds to invest in Bitcoin and other digital assets, up to a maximum of 5%. On March 25, the bill passed the House with a vote of 77 to 15 and was sent to the Senate. However, on April 15, it was rejected by the Senate Tax and Revenue Committee with a vote of 6 to 5, resulting in the failure of the bill, and there are currently no signs of further progress.

Montana

On January 31, 2025, Montana legislators introduced HB 429, proposing to allow the state to invest up to $50 million in Bitcoin, digital assets, stablecoins, and precious metals as a diversified investment in the state's treasury. But the bill was rejected in the House of Representatives by a vote of 59 to 41 on Feb. 21, failing to pass the first round of voting and showing no signs of reopening. Montana's legislative efforts over Bitcoin reserves have come to an end.

Pennsylvania

On November 14, 2024, Pennsylvania representatives Mike Cabell and Aaron Kaufer introduced Bill HB 2664, allowing the state treasurer to invest up to 10% of the Pennsylvania General Fund, Rainy Day Fund, and State Investment Fund in Bitcoin and cryptocurrency-based exchange-traded products, potentially involving investments of up to $970 million. However, according to a report on March 2, 2025, the bill was "effectively terminated" during the legislative process and failed to advance further, with no current indications of a revival.

North Dakota

North Dakota representatives Nathan Toman, Josh Christy, and Senator Jeff Barta jointly introduced a strategic Bitcoin reserve bill on January 11, 2025. The bill aims to allow the state treasury to invest in Bitcoin, but the specific investment ratio and details were not clarified. However, the bill has failed to advance, resulting in legislative failure, with no signs of a restart. North Dakota's legislative efforts for a Bitcoin reserve have come to a halt.

South Dakota

South Dakota legislators postponed a bill on February 25, 2025, that could allow the state to adopt Bitcoin as a strategic reserve asset. The specific details of the bill were not clarified, but it aimed to allow state finances to invest in Bitcoin. The reason for the postponement was the excessive volatility of Bitcoin prices, and the bill is currently terminated with no further advancement possible.

Wyoming

On January 18, 2025, a bill was introduced, supported by Wyoming Senator Cynthia Lummis, to introduce HB0201. This bill allows the state treasurer to invest up to 3% of certain funds, including the general fund, the permanent mineral trust fund, and the permanent land fund, in Bitcoin. Investments can be made through direct purchases or by using regulated Bitcoin exchange-traded products, and annual reports are required to ensure transparency. However, currently, the bill has not made further progress and is listed as a failed bill, marking the end of legislative efforts.

Arizona's breakthrough has set a benchmark for U.S. states, with Texas, Alabama, and others closely following suit by legislating the inclusion of Bitcoin into public finance frameworks, aiming to diversify asset risk and seize opportunities in the digital economy. States that previously rejected the establishment of Bitcoin reserves due to the high volatility risks of cryptocurrencies and regulatory challenges, as well as others that are in the process of advancing, may also shift their stance due to Arizona's first step. Despite facing multiple challenges, Bitcoin's positioning as "digital gold" is gradually being solidified through local legislation. Whether it can become a mainstream reserve asset remains to be seen, but there is no doubt that cryptocurrencies are increasingly being accepted by the mainstream, and the future path will become broader.