Update: With Donald Trump back in the White House, the list of states considering Bitcoin reserve legislation has expanded again.

Donald Trump and his political allies are actively working on plans to accumulate Bitcoin at the U.S. Treasury level.

Amid Bitcoin’s continued price surge after the election, several U.S. states have decided to follow suit.

Currently, nine states are considering bills to establish strategic Bitcoin reserves, while digital asset advocates are urging other regions to do the same.

Here are the U.S. states that may soon add the world’s first and most valuable cryptocurrency to their treasuries.

Texas

Texas lawmakers will soon decide whether to create a strategic Bitcoin reserve.

In December 2024, Texas State Representative Giovanni Capriglione proposed a bill for the state to establish its own Bitcoin fund.

The draft legislation states that:

  • The Bitcoin must be held for at least five years
  • It must be stored in cold storage (on a device that is not connected to the internet)
  • Funds cannot be used outside of Texas

“A strategic Bitcoin reserve aligns with Texas’s commitment to fostering digital asset innovation and ensuring financial security for Texans,” the bill states.

Additionally, the proposal allows Texans to donate Bitcoin to the state fund.

Pennsylvania

In November 2024, the Pennsylvania House of Representatives proposed a bill to create a strategic Bitcoin reserve.

According to the bill, the state treasury could invest up to 10% of the following funds:

  • State General Fund
  • Rainy Day Fund
  • State Investment Fund

Allocating 10% of the General Fund would allow Pennsylvania to purchase nearly $1 billion worth of Bitcoin.

“Bitcoin, which has significantly appreciated over the years, can help Pennsylvania keep pace with inflation and economic changes,” lawmakers stated in an official memo.

Ohio

On December 17, 2024, Ohio State Representative Derek Merrin proposed the Ohio Bitcoin Reserve Act, which would establish a Bitcoin fund within the state treasury.

The bill also gives the state treasurer discretionary power to purchase Bitcoin.

“Ohio must embrace technology and protect tax dollars from erosion,” Merrin said in an X (Twitter) post.

While some details are yet to be finalized, this legislation could serve as a foundation for Ohio lawmakers to refine in 2025.

New Hampshire

On January 10, 2025, New Hampshire Representative Keith Ammon introduced a bill allowing the state treasury to invest in Bitcoin.

Although the bill does not explicitly mention Bitcoin, it refers to cryptocurrencies with a high market cap, making Bitcoin the only eligible asset at present.

“We are tied to the U.S. dollar, whether we like it or not, but this would allow us to invest a small portion in a non-correlated, new asset class,” Ammon told Decrypt.

The bill also grants New Hampshire’s treasurer the authority to engage in Bitcoin lending and staking.

“The state that is last to build Bitcoin reserves will lose out,” Ammon added.

North Dakota

On January 10, 2025, North Dakota lawmakers proposed a resolution to allow state funds to invest in digital assets.

This resolution is not yet a full-fledged bill, but discussions could lead to drafting and submitting one in the near future.

No specific assets have been mentioned, but the North Dakota Legislative Council stated that these details would be outlined in a future bill.

Wyoming

In January 2025, five Republican senators proposed a bill that would allow Wyoming’s state treasury to invest public funds in Bitcoin.

The bill permits investing up to 3% of certain state funds, including:

  • General Fund,
  • Permanent Wyoming Mineral Trust Fund,
  • Permanent Land Fund.

The Bitcoin would be held by the state treasurer, either through a secure custody solution, directly by a qualified custodian, or via Bitcoin ETFs.

Massachusetts

In January 2025, Massachusetts Senator Peter Duran introduced a bill to establish a strategic Bitcoin reserve in the state treasury.

The bill allows up to 10% of Massachusetts’ Rainy Day Fund to be invested in Bitcoin or other cryptocurrencies.

The bill also permits Bitcoin lending to generate additional returns for the state, provided it does not increase financial risk.

Oklahoma

In January 2025, Oklahoma Representative Cody Maynard introduced a bill that would allow the state treasury to invest public funds in digital assets with an average market capitalization of over $500 billion in the previous calendar year.

As of now, the only cryptocurrency meeting this criterion is Bitcoin.

The bill also permits the purchase of asset-backed stablecoins, but no more than 10% of total public funds in any given state account can be allocated to digital assets.

Utah

On January 20, 2025, Utah Representative Jordan Teuscher introduced the “Blockchain and Digital Innovation Amendments” bill (H.B. 230).

If passed, it would allow the state treasury to invest up to 10% of its funds in eligible crypto assets, with funds drawn from multiple accounts, including those allocated for disaster recovery and Medicaid growth.

Similar to Oklahoma, the bill does not explicitly mention Bitcoin, but its $500 billion market cap requirement ensures that Bitcoin is the only eligible asset at present.

Conclusion

With Donald Trump’s return to office, an increasing number of U.S. states are considering Bitcoin as a strategic reserve asset.

Some states are ready to allocate up to 10% of government funds into digital assets, while others are still in the discussion phase.

If this trend continues, the United States could become the first country where Bitcoin becomes an integral part of the national treasury.