On April 29, two Arizona Strategic Bitcoin Reserve Acts passed the final vote of the House of Representatives and will be signed by Democratic Governor Katie Hobbs. Arizona became the first state in the United States to require public funds to invest in Bitcoin. Among them, SB 1373 proposed the establishment of a digital asset strategic reserve fund managed by the state treasurer, which can invest up to 10% in digital assets such as Bitcoin each fiscal year; SB 1025 allows the state finance and pension system to invest up to 10% of available funds in virtual currencies, with a focus on Bitcoin.
At the federal level, Trump signed an executive order in March to establish a strategic Bitcoin reserve and digital asset inventory. The Arizona state government has included cryptocurrencies in public financial management, reflecting the growing mainstream acceptance of digital assets. According to data from the bill tracking website Bitcoin Laws, 26 states in the United States have proposed bills to create Bitcoin reserves. The following is the progress of bills in other states except Arizona.
Clearly support the state
In addition to Arizona, which has passed the bill, the legislative agendas in Texas, Alabama and Minnesota are also progressing steadily.
Texas
Texas has shown bipartisan support for Bitcoin reserve legislation. The Senate has passed the Strategic Bitcoin Reserve Act (SB-21), which allows the use of public funds to purchase Bitcoin and other high-market-cap cryptocurrencies, with a target holding size of $500 billion, and plans to allocate $250 million from the Economic Stabilization Fund. In addition, the HB 4258 bill proposed by the House of Representatives further authorizes local governments to invest in cryptocurrencies, showing the comprehensiveness of its legislative framework5. The bill has been submitted to the states Government Efficiency Delivery Committee. If the bill can pass the states Senate and House of Representatives and become law, it will take effect on September 1 this year.
Texas has shown its support for cryptocurrencies very early on. In 2021, the Texas Legislature established the Texas Task Force to focus on blockchain development and attract a large number of Bitcoin mining companies to Texas with its abundant and cheap energy. For example, Riot Blockchains Whinstone facility in Rockdale has become the largest single Bitcoin mining center in North America.
Lieutenant Governor Dan Patrick once said: Bitcoin is digital gold. Its limited supply and decentralized nature will become a key asset for Texas in the future. According to Bitcoin Magazine, Texas currently has eight bills related to Bitcoin or cryptocurrency. Among these eight bills, HB 4258 is the fifth bill submitted to the committee for review. Including the current bill, four bills (HB 4258, HB 1598, SB 21 and SB 778) all require Texas to establish a strategic Bitcoin reserve.
Alabama
Republican Senator April Weaver of Alabama submitted Senate Bill No. 283 (SB 283) in early April, which goes hand in hand with House Bill No. 482 (HB 482) proposed since March 2025, indirectly locking Bitcoin as a reserve asset by setting a threshold of market value of $750 billion (currently only Bitcoin meets the requirement). Crypto assets must be directly managed by the state treasurer and must not exceed 10% of the state budget. If the bill is passed, it will take effect on October 1, 2025.
Minnesota
Republican Congressman B. Olson of Minnesota filed House Bill No. 2946 (HF 2946), known as the Minnesota Bitcoin Act, on April 1, 2025. The corresponding Senate bill SF 2661 has been filed since March 2025. The two bills are identical in content, allowing the State Investment Board to allocate public funds to Bitcoin, accept BTC as a payment method for taxes and government transactions, and amend 12 existing laws, including tax IDs, retirement plans, and investment regulations to integrate cryptocurrencies. If the bill passes, it will take effect on January 1, 2026.
Steady progress in the state
New Hampshire
The New Hampshire bill is HB302, proposed by Republican Congressman Keith Ammon and supported by both parties. The bill allows the state treasurer to invest up to 5% of state public funds (based on general funds, revenue stabilization funds, etc.) in eligible digital assets or precious metals (such as gold and silver). The initial proposal was 10%, which was later reduced to 5% due to security considerations. On April 10, 2025, the bill passed the full House of Representatives with 192 votes in favor and 179 votes against. State Treasurer Monica Mezapel said that if the bill takes effect, a pilot investment will be launched, and the initial scale may reach 180 million US dollars.
Ohio
Senator Sandra OBrien proposed the Ohio Bitcoin Reserve Bill SB 57 on January 28, 2025, authorizing the state treasury to directly invest in Bitcoin, requiring Bitcoin to be held for at least five years, and requiring state agencies to accept cryptocurrency payments. It also allows state residents, institutions, and universities to donate Bitcoin to the reserve fund. On January 29, it was submitted to the Senate Financial Institutions, Insurance, and Technology Committee and is still in the committee review stage with no further progress.
Utah
In early 2025, Utah State Representative Jordan Teuscher proposed a Blockchain and Digital Innovation Amendment called HB 0230 on January 21, which initially allowed the state treasurer to invest up to 10% of public funds in digital assets, including Bitcoin, non-fungible tokens (NFTs) and stablecoins, subject to regulatory approval, market capitalization and liquidity. On March 10, 2025, the Utah Senate passed HB 0230, but deleted the key clause allowing state finances to invest in Bitcoin, and instead provided residents with digital asset custody protection, mining rights, the right to run nodes and participate in staking.
The removal of the states direct investment in Bitcoin reflects legislators concerns about market risks. Senator Kirk A. Cullimore said at a meeting on March 7 that the removal of the reserve clause was due to many concerns about the early adoption of these policies. So far, Utah has not established a state-level Bitcoin reserve, but has shifted its legislative focus to the regulation and innovation protection of digital assets.
Florida
Floridas HB 487 was proposed in February 2025, allowing the state chief financial officer and the state executive committee to invest up to 10% of public funds, including general revenue funds and budget stabilization funds, in Bitcoin. On April 10, it passed the unanimous support of the House Insurance and Banking Subcommittee (no dissenting votes) and entered the Government Operations Subcommittee for review. It is currently in the Government Operations Subcommittee review stage and has not made any further progress.
In addition, Bitcoin reserve bills are being proposed or promoted in 13 states, including Iowa, Missouri, Georgia, Illinois, Kansas, Kentucky, Maryland, Massachusetts, Michigan, New Mexico, North Carolina, Rhode Island, and West Virginia, and have not yet been explicitly rejected or shelved.
Denial of shelving state
Oklahoma
On January 15, 2025, Cody Maynard of Oklahoma proposed HB 1203, which aims to allow state reserve funds and retirement funds to invest in Bitcoin and other digital assets, up to 5%. On March 25, the bill passed the House of Representatives with a vote of 77:15 and was transferred to the Senate. However, on April 15, it was rejected by the Senate Taxation and Revenue Committee with a vote of 6 to 5, and the bill failed, and there is no sign of further progress.
Montana
On January 31, 2025, Montana lawmakers introduced HB 429, which proposed allowing the state to invest up to $50 million in Bitcoin, digital assets, stablecoins, and precious metals as a diversified investment for state finances. However, the bill was rejected by the House of Representatives on February 21 with a vote of 59 to 41, failed to pass the first round of voting, and there is no sign of restarting it. Montanas legislative efforts on Bitcoin reserves have come to an end.
Pennsylvania
Pennsylvania Representatives Mike Cabell and Aaron Kaufer proposed HB 2664 on November 14, 2024, allowing the state treasurer to invest up to 10% of Pennsylvanias general fund, rainy day fund, and state investment fund in Bitcoin and cryptocurrency-based exchange-traded products, which could involve up to $970 million in investment. However, according to reports on March 2, 2025, the bill was effectively terminated during the legislative process and failed to move forward, and there is currently no possibility of further advancement.
North Dakota
North Dakota Representatives Nathan Toman, Josh Christy and Senator Jeff Barta jointly proposed the Strategic Bitcoin Reserve Act on January 11, 2025. The bill aims to allow state finances to invest in Bitcoin, but the specific investment ratio and details are not clear. However, the bill has not been able to move forward, the legislation has failed, and there is no sign of restarting. North Dakotas legislative efforts on Bitcoin reserves have come to an end.
South Dakota
South Dakota lawmakers postponed a bill that could allow the state to adopt Bitcoin as a strategic reserve asset on February 25, 2025. The specific details of the bill are unclear, but it aims to allow state finances to invest in Bitcoin. The reason for the postponement is that Bitcoin prices are too volatile. The bill has now been terminated and there is no possibility of further advancement.
Wyoming
On January 18, 2025, a bill was introduced, supported by Wyoming Senator Cynthia Lummis on January 18, 2025, to introduce HB 0201, which allows state treasurers to invest in Bitcoin up to 3%, including general funds, permanent mineral trust funds and permanent land funds, and investments can be made through direct purchases or using regulated Bitcoin exchange-traded products, and annual reports are required to ensure transparency. However, the bill has not made any further progress and has been listed as a failed bill, and legislative efforts have come to an end.
Arizonas breakthrough has set a benchmark for other states in the United States. Texas, Alabama and others are following closely and are passing legislation to include Bitcoin in the public finance framework, aiming to diversify asset risks and seize the initiative in the digital economy. States that have rejected the establishment of Bitcoin reserves due to the high volatility risk of cryptocurrencies and the difficulty of regulation, as well as other states that are advancing the process, may also change their direction because of Arizonas first step. Despite facing multiple challenges, Bitcoins positioning as digital gold is gradually being consolidated through local legislation. Whether it can become a mainstream reserve asset remains to be seen, but there is no doubt that encryption is becoming more and more accepted by the mainstream, and the road ahead will become wider and wider.
