States Race to Establish Bitcoin Reserves

Several U.S. states are moving to establish Bitcoin (BTC) reserves, with lawmakers in Kentucky and South Dakota preparing to introduce legislation in the coming weeks. This follows a trend of states seeking to front-run the federal government, which is now considering the feasibility of a crypto reserve.

South Dakota Representative Logan Manhart announced his intention to introduce a bill in the South Dakota House to create a strategic Bitcoin reserve. He emphasized the importance of being proactive in this area. Meanwhile, Kentucky Representative TJ Roberts plans to propose similar legislation upon his return to the General Assembly.

This development comes on the heels of similar initiatives in Wyoming and Massachusetts, bringing the total number of states with Bitcoin-related legislation to eight since December 2024. Notably, the Bitcoin reserve bill introduced in Arizona by Senator Wendy Rogers and Representative Jeff Weninger was the first to pass out of committee and go for a floor vote in the Senate.

In December 2024, Representatives Mike Cabell (Pennsylvania), Giovanni Capriglione (Texas), and Derek Merrin (Ohio) introduced plans for state investments in Bitcoin. Additionally, New York and New Jersey enacted similar moves earlier this month. If Kentucky and South Dakota lawmakers follow through on their promises, the number of states with Bitcoin reserve legislation will increase to 14, closing the gap towards the goal of introducing such bills in 15 different U.S. states.

The Satoshi Action Fund, which has been instrumental in promoting these initiatives, emphasized that the filings are just the beginning of the journey. The firm stated that the focus should now be on advancing and enacting strategic Bitcoin reserve legislation into law, turning these proposals into actionable policies that will shape a stronger, more resilient financial future for all Americans.