Multiple U.S. states consider strategic bitcoin reserves
Several U.S. states are exploring the establishment of strategic Bitcoin reserves, inspired by President-elect Donald Trump's proposal for a national Bitcoin stockpile. This initiative aims to strengthen state financial positions and hedge against economic uncertainties. Proponents argue that such reserves could enhance financial stability and capitalize on Bitcoin's appreciation. However, critics caution about the cryptocurrency's volatility and the potential risks to public funds. As Bitcoin's legitimacy grows, with its price surpassing $100,000 and the approval of Bitcoin ETFs, more states may consider integrating cryptocurrency into their financial strategies.