Maryland is taking a big step toward Bitcoin adoption. State Delegate Caylin Young has introduced the Strategic Bitcoin Reserve Act of Maryland, aiming to make Bitcoin part of the state’s financial assets.
This move highlights a growing trend among U.S. states looking to diversify reserves with digital currencies and use Bitcoin as both an investment and a hedge against inflation.
The proposed Bitcoin Reserve Fund would allow Maryland to invest in Bitcoin as a state-held asset. Additionally, the bill suggests that funds collected from certain gambling violation enforcements could be used to buy Bitcoin, giving the state another way to build its crypto reserves.
Maryland isn’t the only state moving in this direction. Kentucky recently introduced a similar bill – KY HB376 – on February 6. The bill, backed by State Representative Theodore Joseph Roberts, proposes letting the State Investment Commission allocate up to 10% of excess state reserves into Bitcoin and other digital assets.
Kentucky is now the 16th U.S. state to introduce Bitcoin reserve legislation, following in the footsteps of Arizona, Alabama, Florida, Massachusetts, Missouri, New Hampshire, North Dakota, South Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, Kansas, and Wyoming. Just a week earlier, Illinois announced its own Bitcoin reserve proposal, calling for a minimum five-year BTC holding strategy.
Missouri Enters the Race
Momentum is growing across the U.S. as more states consider adding Bitcoin to their financial strategies. Missouri Representative Ben Keathley recently introduced House Bill 1217, which calls for a Bitcoin Strategic Reserve Fund to diversify the state’s investments.
The rise in Bitcoin reserve legislation shows how fast digital assets are gaining mainstream acceptance. As more states explore Bitcoin as a financial tool, this could mark a major shift in how governments think about stability and innovation.
With Bitcoin adoption picking up speed, the future of state finances is looking more digital than ever. Will more states follow this path? The trend suggests the answer is yes.
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