A new bill introduced in Missouri argues for creating a Bitcoin (BTC) strategic reserve fund to diversify the state’s financial portfolio composition.
Missouri Representative Ben Keathley introduced House Bill 1217 on Feb. 7, he explained in an X post published on the same day that it would “authorize Missouri to hold and accept Bitcoin for state payments.” He claimed that this would protect the state against inflation:
“This will help diversify our state’s portfolio while hedging against inflation.”
The details
In his bill, Keathley suggested creating a Bitcoin Strategic Reserve Fund under the control of the state treasurer. The fund would also be able to receive donations and gifts from both Missouri residents and governmental entities. The fund would be built around a long-term investment strategy:
“The treasurer shall store all Bitcoin collected under sub-section 2 of this section for a minimum of five years from the date that the Bitcoin enters the state’s custody.”
If implemented in its current form, the bill would also require all governmental organizations in Missouri to accept cryptocurrency in uses that the Department of Revenue approved. This would include fees, taxes, fines, and other eligible payments — the payees would have to cover the transaction fees.
The bill would allow Missouri’s state treasurer to purchase, invest in, and hold Bitcoin with state funds. The new rules will become effective on Aug. 28, 2025, but this date is likely to change as the bill moves through the legislative process.
This news follows reports that Utah may soon become the first state in the United States to establish its own Bitcoin strategic reserve, thanks mainly to a shorter legislative window. Teuscher — who introduced the bill — further highlighted that his initiative is in good company. He announced:
“While Utah is the 11th state to introduce similar legislation, we will be the first to pass it.”
