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The adoption of Bitcoin as a strategic reserve asset continues to gain traction among U.S. states. Recently, Kentucky introduced a bill that would allow state funds to allocate up to 10% of their reserves into digital assets. This move makes Kentucky the 16th state to pursue such legislation, joining Illinois, Indiana, and Ohio in the growing trend.
States Pushing for Bitcoin Reserves
Missouri and Iowa have also proposed similar Bitcoin reserve bills, following the momentum seen in other states. However, Utah has made the most significant progress so far. The state’s HB230 bill successfully passed a vote in the House and is now heading to the Senate, marking a critical milestone in state-level crypto adoption.
Meanwhile, some states have faced setbacks. Wyoming’s HB201 bill failed to gain committee approval, and North Dakota’s HB1184 proposal was rejected in a legislative vote. Despite these obstacles, the push for state-level Bitcoin reserves remains strong.
Illinois and Indiana Explore Further Crypto Integration
Beyond just Bitcoin reserves, some states are looking into broader applications of blockchain technology. Illinois Representative John M. Cabello introduced a bill that would require the state to hold Bitcoin as a strategic reserve for at least five years. Indiana is also exploring blockchain’s role in state operations, with discussions around investing in Bitcoin ETFs.
Ohio has joined the movement as well, proposing a Bitcoin reserve fund that would enable direct state investments in BTC. The bill also allows citizens, universities, and government agencies to donate Bitcoin to the fund, showcasing a new approach to integrating cryptocurrency into financial infrastructure.
Will the U.S. Pass a National Bitcoin Reserve Bill?
While state-level efforts continue to grow, a national Bitcoin reserve law remains uncertain. According to Polymarket, the likelihood of such legislation passing in 2025 has dropped to 45%. Despite this, state-led initiatives signal a broader acceptance of Bitcoin as more than just an investment but as a fundamental part of financial systems.
For the latest updates on Bitcoin legislation and crypto adoption, stay tuned to Turkish NY Radio.
