Missouri Proposes State-Level Bitcoin Reserve with $23 Billion Demand Potential

Missouri is pushing forward with its plan to create a state-level Bitcoin reserve. House Bill 2080, introduced by Representative Ben Keathley in January, proposes allowing the state treasurer to invest public funds in cryptocurrency.

The bill would allow Missouri's treasurer to purchase and hold Bitcoin using state funds, accepting gifts, grants, and donations from residents or government entities to support the reserve.

However, transactions involving foreign countries or entities outside of Missouri are restricted, keeping the reserve strictly within state jurisdiction.

This is not the first time such a bill has been proposed. Representative Keathley introduced a near-identical bill last year, which stalled without receiving a committee vote to advance.

VanEck estimated that if American states adopted similar Bitcoin Reserve bills, it could generate more than $23 billion in demand for the asset.