According to a report on December 26 (Editor: Liu Rui), since the U.S. election day, Bitcoin has become one of the hottest commodities in the investment market. President-elect Trump has promised to become the 'cryptocurrency president' and is said to build 'the most supportive government for Bitcoin in history', leading to a continuous rise in Bitcoin prices.
During the campaign, Trump stated that if he returned to the White House, he would classify Bitcoin as a strategic reserve asset for the U.S. Although Federal Reserve Chairman Powell recently indicated that the Fed does not intend to hold digital currencies, it still does not prevent people from imagining Bitcoin as a national reserve.
As the date for Trump's inauguration approaches, some states in the U.S. have begun to consider testing the waters: so far, three states have proposed establishing strategic Bitcoin reserves. Meanwhile, industry professionals in digital assets are urging other state and local governments to keep up with the trend.
Texas
Texas lawmakers will soon discuss whether to establish a strategic Bitcoin reserve.
In December this year, Texas House Representative Giovanni Capriglione introduced a bill calling for the establishment of a Bitcoin reserve in Texas.
The legislative proposal stipulates that Texas must hold Bitcoin for at least five years. Under the bill, cryptocurrency must be stored in a 'cold wallet'—that is, stored on a device that is not connected to the internet—and these assets cannot be used for trading outside of Texas.
The bill states: 'The strategic Bitcoin reserve aligns with Texas's commitment to promote digital asset innovation and provide enhanced financial security for Texans.'
Finally, the proposal also allows Texans to donate to the state's Bitcoin fund.
Pennsylvania
In November this year, Pennsylvania House Representatives introduced a bill calling for the establishment of a strategic Bitcoin reserve.
According to the Bitcoin bill, the Pennsylvania Treasurer will be able to purchase Bitcoin with 'up to 10%' of the State General Fund, emergency reserves, and state investment funds.
If 10% of the state's general fund is used, the Pennsylvania Treasury could purchase nearly $1 billion worth of Bitcoin.
State legislators stated in a legislative memo released on November 12: 'Bitcoin has appreciated significantly over the years and can help Pennsylvania keep pace with inflation and economic changes.'
Ohio
On December 17, Ohio House Representative Derek Merrin introduced a bill to establish a strategic Bitcoin reserve in the state.
The bill, named the Ohio Bitcoin Reserve Act, requires the establishment of a Bitcoin fund within the state treasury and grants the Ohio Treasurer the discretion to purchase the asset.
'Ohio must embrace technology and protect taxpayers' money from erosion,' Merrin said in a post on X.
It is expected that this legislative proposal will serve as a framework established by Ohio legislators in 2025.