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Three U.S. States Have Passed Bitcoin Reserve Bills
What happened? New Hampshire, Arizona, and Texas have already passed legislation to create bitcoin reserves. Meanwhile, similar initiatives were rejected in Pennsylvania, Montana, North Dakota, South Dakota, and Wyoming. In 17 other states, similar bills are still under review, including Alabama, Florida, Georgia, Idaho, Illinois, Kansas, Kentucky, Maine, Maryland, Michigan, Missouri, New Mexico, North Carolina, Ohio, Oklahoma, Rhode Island, and West Virginia.
What else is known? There is no unified definition of a bitcoin reserve in the U.S., and states have different approaches. Some bills allow purchasing bitcoin on the open market, while others focus on long-term storage of confiscated coins.
Many proposals technically allow storing altcoins, but high market capitalization requirements effectively limit eligibility to bitcoin.
Texas is the most active in implementing bitcoin reserve legislation. In June 2025, Governor Greg Abbott signed SB 21 and HB 4488, enabling the state to establish a strategic BTC reserve with legal protection against future repeal attempts.
The law allows reserves to be formed through purchases, forks, airdrops, or donations. Only assets with a market cap of at least $500 billion over the past 24 months are eligible, which in practice means only bitcoin qualifies.
Other states have failed to pass similar measures due to political resistance and financial concerns. Montana’s HB 429 proposed up to $50 million in cryptocurrencies, stablecoins, and precious metals, but it was rejected. Similar efforts failed in North Dakota, Pennsylvania, Wyoming, and South Dakota. In South Dakota, a bill to invest up to 10% of state funds in BTC was indefinitely postponed.
In Utah, a blockchain-related bill passed in March, but bitcoin reserve provisions were removed.
Opponents cited bitcoin’s volatility, legal liabilities, and concerns about crypto’s viability as a long-term reserve asset.
See also: "Trump Media & Technology Group Acquires $2 Billion in Bitcoin for Treasury Reserves"
