Another U.S. state has proposed creating a Bitcoin reserve fund for state investments, with Missouri taking the latest step.
Missouri Pushes for a Bitcoin Reserve Fund
Missouri state Representative Ben Keathley has introduced House Bill 1217, aiming to make Bitcoin part of the state’s financial strategy. Filed on February 6, the bill proposes that Missouri’s treasurer should be able to receive, invest, and hold Bitcoin under specific conditions. If approved, Missouri would start accepting Bitcoin for tax payments, fees, fines, and other government-related transactions; however, payees would need to cover transaction fees.
Kentucky Joins the List
Missouri isn’t alone in this initiative. Recently, Kentucky State Representative TJ Roberts introduced Bill HB376, proposing that 10% of the state's funds be invested in Bitcoin and other digital assets with a market cap exceeding $750 billion. Bitcoin, as the leading digital asset, is the primary target for such investments.
Bitcoin Eye For $250K
Bitcoin is attracting attention in the U.S. political arena, with more states looking to add it to their financial reserves. Currently consolidating under $100K, many experts believe these political moves could drive Bitcoin to new highs. Fundstrat’s head of research, Tom Lee, predicts Bitcoin could hit $250K by the end of the year. Similarly, former BitMEX CEO Arthur Hayes shares a bullish outlook, expecting BTC to reach $250K.
The initiative to include Bitcoin in state reserves may set a precedent, encouraging other states and boosting interest in digital assets in the political sphere.
