Missouri has joined the state's trends to adopt Bitcoin by introducing its own Bitcoin Reserve Bill, known as House Bitcoin Reserve Bill 1217.
Missouri Representative Ben Keithley has introduced the bill calling for the establishment of a Bitcoin Strategic Reserve Fund, which will allow state accounts to invest and retain Bitcoin.
The bill, introduced on February 6th, positions Bitcoin as a hedge against inflation and aims to diversify the state's financial holdings.
According to the bill's summary, the bill creates a “Bitcoin Strategic Reserve Fund” that allows state treasurers to receive, invest and retain Bitcoin under certain circumstances.”
Under the proposed law, Missouri treasurers have the authority to receive Bitcoin (BTC) through investments, gifts or donations from government agencies and residents.
The bill also requires all state and local government agencies to accept tax, fees and fines cryptocurrencies and to require payers to cover transaction costs.
Additionally, Bitcoin acquired under this Act will be held for a minimum of five years.
Bitcoin's growing national popularity
Missouri's move continues with the growth trends of US states exploring Bitcoin adoption. Utah is moving forward with House Bill 230, allowing accountants to invest up to 5% of certain public funds in digital assets.
Nationally, at least 16 states are currently considering similar Bitcoin Reserve initiatives, including Ohio, Wyoming and New Hampshire.
If passed, the Missouri Bitcoin Strategic Reserve Fund will come into effect on August 28, 2025, unless further legislative changes occur.
