The concept of Bitcoin as a strategic reserve is gaining traction across the United States, with Maryland and Iowa becoming the latest states to introduce legislation aimed at integrating Bitcoin into their financial frameworks. On February 7, 2025, Maryland State Representative Caylin Young introduced the Strategic Bitcoin Reserve Act of Maryland (HB1389). This bill seeks to establish a Bitcoin reserve fund designed to protect the state against fiat currency inflation. It authorizes the state treasurer to invest funds obtained from enforcing gambling violations in Bitcoin and permits the reserve fund to accept Bitcoin donations from both governmental entities and state residents. If enacted, this legislation could significantly reshape Maryland’s financial strategies and deepen the integration of cryptocurrency into the state’s economy.
Just a day prior, Iowa advanced its own cryptocurrency legislation with the introduction of House File 246 (HF 246). Sponsored by Representative Taylor Collins, the bill proposes allowing the state treasurer to allocate up to 5% of public funds into digital assets, including Bitcoin, as well as precious metals. This move is aimed at diversifying Iowa’s investment portfolio and reflects a broader trend of states embracing digital assets as part of their fiscal strategies.
Maryland’s proposal marks it as the 17th state to introduce Bitcoin reserve legislation. Pennsylvania was the first, introducing its Bitcoin Strategic Reserve Act in November 2024, which permits the state to invest up to 10% of its general fund, investment fund, and rainy day fund in Bitcoin. Florida followed in December 2024, revealing its plans to establish a Bitcoin reserve with support from key political figures. Texas introduced Senate Bill 778 the same month, proposing the creation of a Bitcoin reserve separate from the state’s general revenue fund.
The trend continued into 2025, with Utah passing a Bitcoin reserve bill out of committee in January, positioning it for further legislative approval. Arizona also advanced a similar bill through committee last month, preparing it for consideration in the state’s Senate. Other states actively pushing for Bitcoin adoption and strategic reserves include Alabama, Kentucky, Massachusetts, Montana, New Hampshire, North Dakota, Ohio, Oklahoma, South Dakota, and Wyoming.