Behind the scenes, Bitcoin laws are progressing at the US state level, with around 30 proposals directing funds to reserves. As reported by Matthew Sigel, Vaneck’s Head of Digital Asset Research, only 20 bills under review could drive up to $23 billion in purchases, or about 247,000 BTC if enacted .
The figure excludes pension fund allocations that could occur if state lawmakers move forward. Several state measures focus on channelling general budgets, special revenue accounts, and “rainy day” funds, reflecting various approaches to raising public funds.
The Oklahoma board-level proposal calls for a 10% allocation from $14.7 billion in state funding sources, equivalent to over 15,000 BTC. Massachusetts has introduced measures targeting the $8.8 billion “Rain Day” fund, but Texas has an advanced system that allows them to commit at least 1% of their unobstructed general revenue to Bitcoin. There is a law.
Some proposals specify percentages, while others point out that there are no fixed numbers, as seen in New Hampshire and Montana. Wyoming’s efforts once aimed at a 3% allocation of $27.1 billion, but are marked as failed or death, while other states continue to push similar bills through the commission or introductory stage . One of Iowa, Missouri, New Mexico and South Dakota is one of states with varying proportions, and the shared outlook that Bitcoin could act as a hedge or a valuable alternative It suggests.
North Carolina recently joined the trend and introduced a plan to invest 10% of the state’s funds chosen for Bitcoin. While some legislators cite hedging and diversifying inflation as the rationale, others emphasize their interest in financial innovation. Critics argue that it remains a barrier to volatility to widespread recruitment in state portfolios pointing to uncertain legal and political environments.
The states have different approaches to fundraising. Maryland explores allocations through gambling enforcement revenue streams. The Ohio proposal includes designated donations and interim state funds. Kentucky links Bitcoin investments to assets above a certain market capitalization threshold, affecting Bitcoin, primarily due to its historic position at the top of the digital asset rankings. Advocates argue that even minimal positions can accustom government agencies to emerging technologies and signal openness to private sector innovation.
StatedateStatusFunding SourceFunding SizeInvestment%btcoklahoma15 ‑ jan ‑ 25committee 2state General Fund, Revenue Stabilization Fund,
Constitutional Reserve (“Rain Day”) $14,664,0001010%15,125Massachusetts10 ‑ Jan ‑ 25 introduced constitutional stabilization (“Rain Day”) Fund $8,831,000,00010% Hampshire10 ‑ Jan ‑ 25 Committee 1 General Fund, Revenue Stability 25 companies
Income Tax Fund Budget Budget Protection Area/Medicaid Growth Reduction and Allocation Accounts $1,401,800,00010%1,446TEXAS16 ‑ JAN ‑ 25Commat%2,822Missouri23 ‑ Jan ‑ 25Commat%2,822Missouri23 ‑ Jan ‑ 25Combat1STATE TREASURER $17,082,467,80810%17,620NEW MEXICO4 ‑ FEB ‑ 25COMMITTEE 1LAND GRANT FUND, Retirement Tax Fund,
Tobacco Settlement Permanent Fund, Other State Funds $42,098,0005%21,711South Dakota30 ‑ JAN ‑ 25 Commission 1 Public funds approved by the State Investment Council $16,678,000,00010%17,203montana8 ‑ feb -25 -committee
(Up to $50 million) $4,176,970,000N/A516NORTH CAROLINA10 ‑ FEB ‑ 25 INTRODECUNEDGENERAL FUND, Highway Fund, Teachers & State Employees’
Retirement plan, other special state funds $26,291,046,00010%27,118
Analysis of 20 US state Bitcoin preliminary proposals (source: Matthew Siegel, Vaneck)
While federal interests appear to be limited to early stage debate, official statements by President Donald Trump’s administration and some lawmakers showcase the idea of ​​a national Bitcoin Reserve. This concept has not yet been realized in decisive action. However, the state’s momentum suggests that local governments view Bitcoin as a strategic resource. Especially for specific budget categories and investment pools. While some states have suspended or rejected such efforts, the general pattern shows an increasing push to formalize Bitcoin holdings as part of state-level fiscal policy.
The Legislative Committee will continue to evaluate each bill, and some measures may return for further discussion despite the initial set-off. Proposals that survived the committee’s scrutiny may be subject to revision before reaching the final vote, but broader benefits highlight the potential role of Bitcoin in government strategy. If states enact these plans in substantive form, the combined effect could reconstruct how public funds are allocated across the US.
