The US state of Missouri has made progress on a bill that would create a strategic reserve for Bitcoin.
The United States continues to take steps towards adopting Bitcoin (BTC) and cryptocurrencies as reserve assets.
At this point, the latest news comes from the state of Missouri. A bill in Missouri that would create a strategic reserve for Bitcoin has advanced to committee.
A similar bill proposing a Bitcoin strategic reserve was introduced last February, but it failed to pass the committee stage.
A bill (HB2080) that would create a strategic Bitcoin reserve in the US state of Missouri has been referred to the House Commerce Committee for review.
According to the official statement, Bill 2080 aims to create a Bitcoin Strategic Reserve Fund within the state treasury and authorize the Missouri State Treasurer to purchase, invest in, and hold Bitcoin under certain conditions.
The fund can also purchase Bitcoin using donations from government agencies and residents.
One of the most interesting provisions of the bill was the strict storage requirement. According to this, every Bitcoin acquired for reserve must be held in cold storage for at least five years before being moved or converted to cash. This long-term storage requirement demonstrates that the reserve is designed as a strategic asset rather than a short-term trading instrument.
If the bill passes the committee, it will be put to a vote in the House of Representatives. Then, to become law, it will need to be sent to the Senate and signed by the governor.
Furthermore, if passed, the HB 2080 bill would place Missouri among the first US states to formally integrate Bitcoin into its treasury strategy. Missouri would join a small but growing group of US states, including Florida, New Hampshire, Wyoming, and Texas, that are advancing digital asset legislation.
