TechFlow reports that on December 8, according to DLNews, fueled by expectations of Trump's return to the White House and plans to establish a national Bitcoin reserve, U.S. states are actively advancing state-level Bitcoin reserve initiatives. Florida, leveraging its pro-crypto policy environment and support from the Florida Blockchain Business Association (FBBA), aims to establish a Bitcoin reserve as early as the first quarter of 2025. Samuel Armes, chairman of the FBBA, said the state has sufficient budget surplus, and allocating just 1% of its pension fund to Bitcoin would amount to $1.85 billion.
In November 2024, Pennsylvania introduced the Strategic Bitcoin Reserve Act, proposing to allocate up to 10% of the state’s general fund to Bitcoin investments. The bill’s co-sponsor, State Representative Mike Cabell, said this forward-looking move aims to diversify investment portfolios and hedge against inflation risks. Some states are adopting more conservative approaches by investing in crypto ETFs. Recent SEC filings show Michigan holds $11 million worth of ARK 21Shares Bitcoin ETF and 920,000 shares across two Grayscale Ethereum trusts valued at over $33 million. The Wisconsin Investment Board holds over $220 million in Bitcoin ETF shares from Grayscale and BlackRock. As state-level reserve plans progress, figures like Senator Cynthia Lummis are also calling for a federal Bitcoin reserve.
