The representative of Missouri Ben Keithli, HB 1217, a draft law to create a bitcoin strategic reserve fund. The Fund Secretary of the State will be allowed to “receive Bitcoin and invest and keep it under certain circumstances.” The draft law, which was submitted on February 6, represents Missouri’s entry into the increasing trend of American states, given BTC as a backup asset.
Missouri Bitcoin, a budget, a bumper that acquires traction strength
Keathley’s proposal follows a similar step in Maryland, where Caylin Young is a strategic bitcoin reserve law in Maryland on February 7. The draft law seeks to create a Maryland Bitcoin Reserve Fund, designed for Bitcoin as a country’s backup asset. According to the project of the bill, the fund will be funded through the penalties collected from “the enforcement of some gambling violations.”
BTC reserves have gained momentum as countries explore alternative financial strategies amid fears of inflation and the stability of the US dollar in the long run. By investing in Bitcoin, these countries aim to create hedging against economic uncertainty while diversifying their financial property.
New: Ben Keachley, Missouri Bell’s MP to create the “Bitcoin Strategic Fund”
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Bitcoin (PitcoinMagazine) Magazine February 7, 2025
HB 1217 was not to be held in Missouri nor the strategic Bitcoin reserve law in Maryland’s state of listening so far. However, their introduction signals increase institutional attention in Bitcoin at the state level. If passed, these bills can be placed as a precedent for other American states to follow up.
Also read: Maryland del. Bitcoin strategic law
