Catenaa, Sunday, February 16, 2025 – A Missouri legislator has introduced a bill that would establish a Bitcoin Strategic Reserve Fund, positioning the state as a leader in digital asset adoption.
House Bill 1217, sponsored by Representative Ben Keathley, seeks to integrate Bitcoin (BTC) into Missouri’s financial framework as a hedge against inflation and a means to diversify the state’s investment portfolio. If enacted, the bill would authorize the state treasurer to receive, invest in, and hold Bitcoin under regulated conditions.
The proposed fund could accept BTC donations from government entities and residents, expanding beyond direct state allocations. Additionally, the bill mandates that all Missouri government entities accept cryptocurrency for certain transactions, including taxes, fees, and fines, though payers would bear associated transaction costs.
Keathley’s legislation emphasizes a long-term approach, requiring the state to hold all Bitcoin assets for at least five years before liquidation. The bill also seeks to broaden Missouri’s investment authority by permitting the state treasurer to directly invest state funds in Bitcoin.
The initiative follows similar efforts in Utah, where House Bill 230 recently passed the state’s House of Representatives and is awaiting Senate review. If approved, Utah would allow up to 5% of public funds to be allocated into Bitcoin and other digital assets.
Bitcoin reserves are gaining traction across the U.S., with at least 17 states, including Arizona, Kentucky, and Wyoming, actively exploring similar measures.
However, the trend has faced opposition, as seen in North Dakota, where lawmakers recently rejected a crypto investment proposal in a 32-57 vote.
The bill, set to take effect on Aug. 28 if passed, awaits further deliberation, with no second hearing scheduled as of yet.
