Race to Bitcoin Reserves: Which US States Are Taking the Lead

• Arizona is currently leading the US Bitcoin reserve race with two bills.
• Most states have proposed allocating 10% of their funds to Bitcoin reserves.
• The move reflects growing support for Bitcoin amid broader crypto adoption.

Over the past few months, several states have proposed or passed bills to create state-level Bitcoin (BTC) reserves, with a few also considering including other digital assets.

Bitcoin Legislation Gains Traction Across U.S. States

Across the U.S., momentum for Bitcoin-backed state treasuries is growing.

Twenty-eight states have proposed allocating public funds to Bitcoin, with 18 actively progressing through legislative channels.

Fifteen have advanced to the House of Representatives, where committees are refining the legal framework for state-held Bitcoin reserves.

However, not all proposals are moving forward. Six states have seen their bills rejected in committee, while in four others, the initiatives have stalled with no further action.

With more states considering direct Bitcoin exposure, the movement toward state-level adoption is gaining momentum.

If successful, these efforts could mark a significant shift in public finance, positioning Bitcoin as a legitimate treasury asset at the state level.

Bitcoin Reserve Progress

Here’s a breakdown of key states working to establish state-level BTC reserves.

Passed

Arizona Approves Two Bitcoin Reserve Bills

The Arizona Senate has passed two Bitcoin reserve bills, SB 1025 and SB 1373. Both are now awaiting Governor Katie Hobbs’ signature to become law.

SB 1025 was approved on April 29, followed by SB 1373, which passed with a 37-19 vote later that day. Both measures have been sent to the governor’s desk for final approval.

New Hampshire Bitcoin Reserve Bill Moves Forward

New Hampshire Bitcoin Reserve Bill HB 302 has passed the Senate Ways & Means Committee by a 4-1 vote. The bill enables the state treasurer to invest public funds in precious metals and digital assets.

North Carolina Bitcoin Bill Moves Forward

North Carolina lawmakers introduced two Bitcoin reserve bills that proposed investing up to 10% of state funds in exchange-traded products tied to digital assets with a market cap above $750 billion—namely, Bitcoin ETFs.

Of the two, House Bill 92 has made the most progress . The Bitcoin Reserve Bill HB 92 has passed the House Committee on Rules, Calendar, and Operations and all assigned committees.

Kentucky Becomes First To Enact “Bitcoin Rights” Law

Kentucky has officially become the first U.S. state to enshrine legal protections for Bitcoin users.

House Bill 701, now signed into law, protects individual custody rights, exempts those running Bitcoin nodes from money transmitter licensing, and blocks the imposition of new taxes on digital asset payments.

The move further solidifies Kentucky’s reputation as one of the most crypto-forward states in the country.

Failed

Oklahoma Bitcoin Reserve

Oklahoma took a notable step toward Bitcoin adoption when its House passed the Strategic Bitcoin Reserve Bill (HB 1203) in a 77–15 vote, signaling growing interest in integrating Bitcoin into public finance strategies.

The bill positioned Oklahoma among a growing list of states, including Texas, Arizona, and Utah, exploring Bitcoin reserves as part of their public finance strategy.

However, the momentum didn’t carry through. The bill failed to pass the Senate Revenue and Taxation Committee, losing in a narrow 6–5 vote, despite testimony in support from sponsor Sen. Brian Guthrie. Both Republicans and Democrats opposed the measure.

Pennsylvania

Pennsylvania was among the first states to introduce a Bitcoin reserve bill as early as November 2024.

The Bitcoin Strategic Reserve Act would have allowed the state to allocate up to 10% of its general , investment, and rainy day funds to Bitcoin.

However, the bill failed to pass the committee review process and is dead.

North Dakota

North Dakota introduced three Bitcoin and crypto investment bills, two of which have failed, while one proposal is currently under committee review.

Wyoming

On Jan. 18, five Republican senators in Wyoming filed a bill to create a BTC reserve. However, the bill failed to pass the committee review and is dead .

Montana

Montana introduced a Bitcoin reserve bill on Jan. 31, proposing up to $50 million in investments across Bitcoin, digital assets, stablecoins, and precious metals.

While the bill passed committee review, it failed to secure enough votes in the first chamber.

South Dakota

South Dakota Republican Rep. Logan Manhart announced on X that he plans to introduce the Bitcoin reserve bill to establish a Bitcoin stockpile in the state.

The proposed bill, however, failed to pass the committee review process and is officially dead now.

Pending

Texas Bitcoin Reserve Bill Moves to Government Efficiency Committee

Texas leads the nation in Bitcoin reserve legislation, with seven active bills in various stages of the judicial process.

Three remain stalled at the introduction phase, two are under review by the first House committee, and one has advanced to the second House committee.

The Texas Bitcoin Reserve bill HB 4258 has been forwarded to the Delivery of Government Efficiency Committee.

On Jan. 10, New Hampshire State Representative Keith Ammon introduced HB 302, a bill allowing the state treasury to invest in Bitcoin.

The proposal is under review, alongside two other bills that aim to expand digital asset investment and clarify regulatory frameworks.

During a recent House Committee hearing , lawmakers focused on a key issue: who would have the authority to manage the state’s Bitcoin holdings.

Much of the discussion centered on whether the state treasurer already has the legal power to make such investments or if new legislation is needed to remove ambiguity.

The committee noted that HB 302, like the other crypto-related bills under review, is designed to give clear guidance and reduce legal uncertainty for state officials tasked with managing public funds.

Alabama Introduces Two Concurrent Bitcoin Reserve Bills

Alabama has joined the growing number of states exploring Bitcoin reserves. To streamline the process, two identical bills—SB 283 and HB 482—were introduced concurrently in the legislature.

State Auditor Andrew Sorrell voiced his support for establishing a strategic Bitcoin reserve, citing momentum from neighboring states pursuing similar initiatives.

HB 482 proposes allowing the state to invest up to 10% of its public funds in cryptocurrencies with a market capitalization exceeding $750 billion, effectively focusing on assets like Bitcoin.

The bill is currently being reviewed by a House committee and will need to pass several stages before it reaches a final vote.