Utah Joins Arizona in Approving Bitcoin Reserve Bill

Utah Approves Strategic Bitcoin Reserve Bill, Awaits Governor’s Signature

Utah has become the second US state after Arizona to approve a Strategic Bitcoin Reserve bill, requiring final governor approval to become law. The bill proposes allocating 10% of state funds to Bitcoin reserves, with 11 other states considering similar legislation.

South Dakota is following Arizona’s lead, with State Representative Logan Manhart supporting proactive government involvement. The bill is moving forward under Jordan Teuscher’s leadership, who previously introduced HB230 for Utah’s digital asset investments.

Bitcoin’s price showed a slight correction to $102,248.93, while companies like MicroStrategy continue to accumulate more BTC. The current version of Utah’s bill includes specific provisions for the management and oversight of the state’s potential Bitcoin holdings, though exact details about implementation and security measures are still being finalized.

If approved, Utah’s Strategic Bitcoin Reserve would represent one of the most substantial government adoptions of cryptocurrency at the state level in the United States.

Czech central bank eyes holding up to 5% of reserves in Bitcoin: report

The Czech National Bank is considering investing up to 5% of its reserves in Bitcoin, according to a Financial Times report. Governor Aleš Michl plans to propose the investment to the bank’s board, potentially allocating up to $140 billion to the cryptocurrency.

Michl acknowledged Bitcoin’s volatility but pointed to its rising investor interest, especially after BlackRock launched spot Bitcoin exchange-traded funds in 2024. He admitted that Bitcoin’s value could go to zero but also sees its potential as a hedge against inflation and a way to diversify the bank’s assets.

If the plan moves forward, the Czech National Bank could become the first Western central bank known to hold Bitcoin, joining El Salvador, which holds 6,048 BTC worth about $619 million. The United States is also evaluating the feasibility of a national digital assets stockpile, though President Donald Trump’s executive order does not prioritize holding Bitcoin in reserves.

Utah Follows Arizona’s Lead with Bill to Invest State Funds in Digital Assets

The Utah House Economic Development and Workforce Services Committee has approved a bill that permits the state to allocate public funds for investment in digital