"Bitcoin Gold Rush: States Race to Secure Crypto Reserves"

The list of US states embracing Bitcoin reserves is growing, with several states exploring or implementing strategies to invest in the cryptocurrency. This trend reflects a broader recognition of Bitcoin's potential as a strategic asset and a hedge against inflation.

In Alabama, State Auditor Andrew Sorell has advocated for the establishment of a strategic Bitcoin reserve, stating that "crypto is here to stay" and that states should position themselves to benefit from its growth. In Arizona, the Senate Finance Committee has approved the "Arizona Strategic Bitcoin Reserve Act," which would allow up to 10% of the state's public funds to be invested in Bitcoin and other digital assets.

Florida CFO Jimmy Patronis has requested a report on the feasibility of investing a portion of state retirement system monies into cryptocurrency, highlighting the potential benefits for Floridians. In Kansas, a bill has been introduced that would allow the Kansas Public Employees Retirement System to invest up to 10% of its assets in Bitcoin ETFs.

Illinois State Rep. John Cabello has introduced the Bitcoin Strategic Bill, which aims to establish Bitcoin as a strategic asset for the state. The bill would require the Illinois State Treasurer to manage the fund, accepting gifts, grants, and BTC donations from residents and governmental entities. BTC holdings would need to be kept for a minimum of five years before they can be transferred, sold, or converted into another cryptocurrency.

Iowa State Rep. Taylor Collins has introduced a bill to invest public money into Bitcoin and digital assets. In Massachusetts, State Sen. Peter Durant has proposed a bill that would invest the state's unallocated or uncommitted surplus funds into Bitcoin and other digital currencies.

Last year, the State of Michigan Retirement System disclosed owning 110,000 shares of the ARK 21Shares Bitcoin ETF, valued at approximately $6.6 million as of June 30. Missouri Representative Ben Keathley has introduced House Bill 1217, seeking to establish a Bitcoin Strategic Reserve Fund that would allow the state treasurer to invest in and hold Bitcoin as a hedge against inflation.

Montana legislators are considering a bill that would authorize up to $50 million to be invested in digital assets, including Bitcoin. New Hampshire Rep. Keith Ammon has proposed legislation that would establish a strategic Bitcoin reserve for the state, enabling the state's