Bitcoin Reserves in US States Match in 3 Key Ways

To date, at least 8 states in the United States have already officially presented their own projects to approve the creation of strategic reserves of bitcoin (BTC), managed by state authorities.

These states are Pennsylvania, Texas, Ohio, New Hampshire, North Dakota, Oklahoma and, more recently, Wyoming and Massachusetts, entities where they were presented this Friday, January 17 two projects aimed at creating bitcoin reserves.

The documents, similar in form and substance, have their own characteristics and, at the same time, agree on three key aspectsas NoticiasVE has been able to identify after a review of these legislative projects.

1. Everything falls on the state treasurer

In all the bills presented so far it is established that the person in charge of carrying out the bitcoin reserve, with everything and its custody, He is the state treasurer.

In each of these documents, it is specified that the treasurer, also called comptroller, is the one who must make BTC purchases for the reserve. Additionally, he is responsible for establish and manage necessary security policies to protect states’ bitcoin holdings.

This implies not only the acquisition of digital assets, but also their protection and strategic management. to ensure that they serve the financial interests of each federal entity.

2. Outsourced custody

Another point on which the bills presented to date agree has to do with the custody of funds in bitcoin. It is indicated that this is entirely the responsibility of the treasurer, who must locate the best custody solution to secure the BTC reserve.

The projects agree with the idea that the treasurer can seek an outsourced custody service to be responsible for safeguarding the BTC. However, this option comes with the condition that custodial services must be previously approved and certified by state authorities.

The latter ensures that only companies with the highest security and regulatory compliance standards can handle such assets, in accordance with the provisions of the bills.

3. The erosion of inflation

Finally, in most of the bills already presented, the inflation narrative is exhibited, economic phenomenon that “erodes purchasing power”and is presented as one of the reasons for US states to adopt BTC as a reserve asset.

The documents share the idea that states are at risk of suffering from inflationary attacks and that bitcoin is a “valuable digital asset” that serves as a refuge from financial crises.

This argument is based on the limited nature of the supply of bitcoin, which cannot be inflated by expansionary monetary policies, thus offering a potential protection against devaluation of fiat currencies, such as the US dollar.

More bookings to come

According to Dennis Porter, the main promoter of these bills through the organization Satoshi Act Fund, a handful of states are expected to present proposals to create their treasuries, adding up to 15 this year, according to his calculations.

The issue of bitcoin reserves is gaining momentum more and moreespecially hours before Donald Trump assumes the presidency of the United States. This is due to its promise to create a BTC reserve, which will be under the control and administration of the Treasury Department, as has been estimated.

Trump, during his campaign, promised to explore the creation of a national strategic reserve of BTC, a move that could further encourage states to move forward with their proposals.

Trump’s promise, combined with growing interest in cryptocurrencies as a financial tool, suggests that it is plausible to see a significant increase in bitcoin adoption and regulation at the state level in the coming months and years, reflecting a new era in US fiscal and monetary policy.