Two States File Companion Bills for BTC Holdings
Alabama and Minnesota are advancing legislation that could make them the first U.S. states to hold Bitcoin as a strategic reserve asset. Minnesota’s bills—HF 2946 and its Senate counterpart SF 2661—explicitly name Bitcoin as an investable asset for the state. Alabama’s Senate Bill 283, filed by Sen. April Weaver, avoids naming Bitcoin directly but restricts eligibility to cryptocurrencies with a market cap over $750 billion, a threshold only Bitcoin currently meets.
What the Legislation Covers
Minnesota’s bills would allow the state to invest in Bitcoin, accept it for tax payments, and amend a wide range of statutes, including those related to pension funds, investments, and tax collection. Alabama’s version stipulates that digital assets must be held directly by the treasurer, a qualified custodian, or through ETFs, and would cap exposure to 10% of any state-managed fund.
U.S. Trend in Bitcoin Reserves
These bills follow a growing number of similar initiatives across U.S. states. South Carolina recently introduced its own strategic Bitcoin reserve bill, while Oklahoma and Texas have already passed legislation, with Texas awaiting final approval. In total, 41 state-level bills are currently active across 26 states, according to data from Bitcoin Law.
Public Skepticism Persists
Despite legislative momentum, public sentiment on platforms like the Myriad prediction market remains skeptical. A recent prediction market suggested most users don’t believe any state-level Bitcoin reserve law will be implemented by mid-year.
