U.S. States to Lead in Bitcoin Reserves Amid Federal Speculations

The cryptocurrency landscape in the U.S. signals the possibility of a massive Bitcoin Reserve emergence in 2025. President-elect Donald Trump’s pro-crypt stance has triggered a bullish market cycle since his victory. Additionally, more and more institutional players have embraced digital asset ownership, as seen by the surging figures in exchange-traded funds (ETFs). This wave of adoption has seen a handful of U.S. states pushing for state-owned Bitcoin reserves. This drive comes following speculations that Trump might establish a national Bitcoin reserve. Florida Leads the Charge with Pro-Crypto Momentum Some states, including Florida, could establish a strategic Bitcoin reserve in the first quarter of 2025. In a post on X, Samuel Armes, President of the Florida Blockchain Business Association (FBBA), highlighted possible avenues to embrace Bitcoin. These include budget surplus and state pension investment. He noted that with a $116.5 billion budget surplus for the financial year 2024-25, Florida could invest responsibly in Bitcoin without cutting essential services. “Investing just ONE percent of our surplus would be $1.165 billion,” Armes stated. He assured that FBBA would push for the actualization of this move along with three pro-Bitcoin bills for legislative action. Interestingly, Danny Perez, Speaker of the Florida House, and Ben Albritton, the President of the Senate, are both pro-crypto. Additionally, Ron DeSantis, governor of Florida, is also pro-Bitcoin. Some States Explore Bitcoin ETFs Meanwhile, Pennsylvania is also looking to develop its own Strategic Bitcoin Reserve Act, which was introduced last month. Co-sponsor of the bill, State Representative Mike Cabell, believes it is a way to diversify investments and hedge against inflation. As per the proposal, Pennsylvania could invest as much as 10% of its General Fund into Bitcoin. Other states like Wisconsin and Michigan have chosen an indirect route to Bitcoin exposure. The two states are exploring ETFs and trusts . The State of Wisconsin Investment Board has ploughed over $220 million of capital into Grayscale and BlackRock Bitcoin ETF shares. National Bitcoin Reserve Sparks Debate As per Michigan’s recent filings with the Securities and Exchange Commission (SEC), it holds $11 million in Ark 21Shars Bitcoin ETF. Its Ethereum holdings signal a more bullish stance. Michigan has over $33 million (920,000 shares) worth of assets across two Grayscale Ethereum trusts. It remains to be seen how President-elect Donald Trump will implement the national Bitcoin reserve proposal. However, Lawrence Summers, Former U.S. Treasury Secretary, has critiqued the move , calling it politically motivated and impractical. Summers maintains a national Bitcoin reserve, which would not benefit the U.S. The post U.S. States to Lead in Bitcoin Reserves Amid Federal Speculations appeared first on TheCoinrise.com .

Source: The Coin Rise