Overview of the Latest Developments on Bitcoin Strategic Reserve Bills in U.S. States

Recently, several state governments in the United States are actively promoting legislation related to Bitcoin strategic reserves. These bills aim to allow state governments to purchase and hold Bitcoin as a reserve asset to diversify investment risks and seize opportunities in emerging technologies.

Currently, the bills in New Hampshire, Missouri, and Tennessee have made the most significant progress. The HB1526 bill in New Hampshire was passed in June 2023, allowing the state treasury department to invest in Bitcoin and other cryptocurrencies. The SB938 bill in Missouri was also passed in March this year, authorizing the state government to purchase Bitcoin as a reserve asset. The SB2433 bill in Tennessee was similarly passed in March, paving the way for the state government to invest in Bitcoin.

Several other states are also actively promoting similar bills. For example, Texas's HB4965 bill proposes the establishment of a Bitcoin reserve fund, which is currently under review. Arizona's HB2645 bill plans to designate Bitcoin as legal tender but has not yet been passed. Wyoming, Montana, and South Carolina also have related bills under discussion or in the drafting stage.

This trend indicates that an increasing number of state governments in the United States are beginning to recognize the value of Bitcoin as a potential reserve asset. They hope to create a legal framework for state government participation in the digital asset market through legislative means, in order to respond to the rapidly changing fintech environment.

However, the advancement of these bills has not been smooth sailing. Some states face questions and opposition from lawmakers and the public. Critics are concerned that the price volatility of Bitcoin could pose risks to state finances, while also expressing concerns about its environmental impact.

Nevertheless, supporters argue that moderate investment in Bitcoin can help state governments diversify their portfolios and gain an advantage in the emerging digital economy. They emphasize that these bills often include risk management measures, such as limiting the percentage of investment.

As more states join this trend, the discussion of Bitcoin as a state-level reserve asset may become even more heated. This not only reflects the gradual acceptance of cryptocurrency in mainstream finance but also demonstrates local governments' innovative attempts in fiscal management.

In the future, we may see more states participating in this trend, while also looking forward to a response at the federal level. In any case, these measures mark an important step for digital assets in the public finance sector and are worth ongoing attention.