Missouri is making headlines by proposing a groundbreaking Bitcoin reserve initiative, officially titled House Bill 1217.
Introduced by Representative Ben Keathley, the bill aims to create a Bitcoin Strategic Reserve Fund, enabling the state treasurer to invest in and hold Bitcoin.
Filed on February 6, the legislation positions Bitcoin as a strategic hedge against inflation and seeks to diversify Missouri’s financial portfolio.
The bill outlines the establishment of the ‘Bitcoin Strategic Reserve Fund,’ empowering the state treasurer to receive, invest, and manage Bitcoin under specific conditions.
Under this proposed legislation, the Missouri treasurer would be authorized to obtain Bitcoin (BTC) via investments, gifts, or donations from both governmental and private entities.
Additionally, the bill mandates that all state and local government agencies accept cryptocurrency for tax payments, fees, and fines, with the responsibility for transaction costs resting on the payers.
Moreover, any Bitcoin acquired through this initiative must be retained for a minimum period of five years.
The Rise of Bitcoin Adoption Across States
Missouri’s initiative is part of a broader movement among U.S. states that are increasingly exploring the potential of Bitcoin. Utah is considering House Bill 230, which would allow its treasurer to invest up to 5% of specific public funds in digital assets.
Currently, at least 16 states are weighing similar Bitcoin reserve proposals, with Ohio, Wyoming, and New Hampshire among them.
If enacted, Missouri’s Bitcoin Strategic Reserve Fund is set to become operational on August 28, 2025, barring any legislative amendments.
