Missouri introduces bill to establish Bitcoin reserve
Missouri is joining the trend of states embracing Bitcoin by introducing its own Bitcoin reserve bill, known as House Bill 1217.
Missouri Representative Ben Keathley introduced the bill, seeking to establish a Bitcoin Strategic Reserve Fund that would allow the state treasurer to invest in and hold Bitcoin.
The bill, filed on February 6, positions Bitcoin as a hedge against inflation and aims to diversify the state’s financial holdings.
The bill “creates the ‘Bitcoin Strategic Reserve Fund’ and allows the state treasurer to receive, invest, and hold Bitcoin under certain circumstances,” according to the bill’s summary.
Under the proposed legislation, the Missouri treasurer would have the authority to receive Bitcoin (BTC) through investments, gifts, or donations from government entities and residents.
The bill also mandates that all state and local government agencies accept cryptocurrency for taxes, fees, and fines, with payers covering transaction costs.
Additionally, Bitcoin acquired under this law would be held for a minimum of five years.
Bitcoin’s growing state popularity
Missouri’s move follows a growing trend among U.S. states exploring Bitcoin adoption. Utah is advancing House Bill 230, which would permit its treasurer to invest up to 5% of certain public funds in digital assets.
Nationwide, at least 16 states are currently considering similar Bitcoin reserve initiatives, including Ohio, Wyoming, and New Hampshire.
If passed, Missouri’s Bitcoin Strategic Reserve Fund would take effect on August 28, 2025, unless further legislative changes occur.
