Thomas Daniels
With the passage of House Bill 1217, a bill that will establish a Bitcoin Strategic Reserve Fund, Missouri is moving forward with its cryptocurrency plan. The bill was introduced by State Representative Ben Keathley and aims to give the state treasurer the authority to store and invest in Bitcoin (BTC) as a component of Missouri’s financial holdings.
Using Bitcoin as an Inflation Hedging Tool
The law, which was filed on February 6, presents Bitcoin as a way to diversify the state’s financial reserves and act as a hedge against inflation. The bill’s summary states that the state treasurer would be able to receive, invest in, and keep Bitcoin under certain restrictions through the Bitcoin Strategic Reserve Fund.
The proposed law gives the Missouri treasurer the power to purchase Bitcoin from gifts, donations, or investments made by both public and private citizens. The plan also requires state and municipal governments to accept cryptocurrency payments for taxes, fees, and fines, with payers picking up the tab.
The bill’s main clause, which mandates that any Bitcoin purchased under this legislation be retained for at least five years, reaffirms Missouri’s long-term commitment to the adoption of digital assets.
Increasing Bitcoin Momentum States in the United States
The move by Missouri fits into a larger pattern of state-level Bitcoin adoption. House Bill 230, for instance, is being advanced in Utah and would allow the state treasurer to invest up to 5% of specific public funds in digital assets. Similar Bitcoin reserve plans are being considered by at least 16 states nationwide, including Ohio, Wyoming, and New Hampshire.
Unless more legislation is passed, Missouri’s Bitcoin Strategic Reserve Fund would go into effect on August 28, 2025. This action demonstrates how Bitcoin’s significance in state financial planning and its potential as a hedge against conventional economic concerns are becoming more widely acknowledged.
