Missouri Representative Ben Keathley has introduced House Bill 1217 (HB 1217), a proposal that seeks to establish a Bitcoin Strategic Reserve Fund for the state. If passed, the bill would allow Missouri’s treasurer to invest, hold, and receive Bitcoin as part of the state’s financial strategy.
Bitcoin Strategic Reserve Fund in Missouri
Filed on February 6, the bill highlights Bitcoin as a potential hedge against fiat currency inflation and a way to diversify Missouri’s investment portfolio.
The proposal outlines that Bitcoin could be acquired through direct purchases, state funds, or voluntary donations from Missouri residents and governmental entities. The fund would be managed under the oversight of the Missouri state treasurer.
Missouri to Accept Bitcoin for Taxes, Fees, and Fines
Beyond establishing a Bitcoin reserve, the bill also proposes that all Missouri government entities be required to accept cryptocurrency payments for taxes, fees, fines, and other approved payments.
This move would enable residents to pay state-related expenses using Bitcoin, though they would be responsible for covering transaction fees associated with cryptocurrency payments.
To ensure long-term value preservation, Keathley’s bill suggests a Bitcoin holding strategy, stating that the state treasurer must store all Bitcoin collected for a minimum of five years before any potential liquidation or reallocation.
This approach reflects a “hodl” strategy, commonly adopted by long-term Bitcoin investors who believe in its appreciating value over time.
Missouri Treasurer to Oversee Bitcoin Investments
Under HB 1217, the Missouri treasurer would have the authority to invest, purchase, and hold Bitcoin using state funds.
If enacted, this could position Missouri as one of the first U.S. states to officially integrate Bitcoin into its financial reserves. The bill’s proposed effective date is August 28, though it remains subject to further legislative discussions. As of now, a second hearing for the bill has not yet been scheduled.
More U.S. States Are Proposing Bitcoin Reserves Under Trump’s Presidency
Since Donald Trump returned to the White House, several U.S. states have started proposing Bitcoin reserve bills, signalling a shift in how state governments view cryptocurrency.Â
Lawmakers in states like Texas, Wyoming, and Louisiana have also explored legislation that would allow state treasuries to hold Bitcoin as part of their financial strategies.
Trump’s administration has softened its stance on crypto, with many policymakers now viewing Bitcoin as a valuable asset rather than a regulatory threat. The move by Missouri to establish a Bitcoin Strategic Reserve Fund reflects a broader trend of increasing state-level adoption of digital assets.
As the debate over Bitcoin’s role in government finance continues, Missouri’s HB 1217 could set a precedent for other states considering similar policies. Whether the bill will gain the necessary support remains uncertain, but it marks another step toward Bitcoin’s mainstream acceptance within U.S. financial systems.