Missouri Joins Growing Trend of U.S. States Building Bitcoin Reserves

The trend of U.S. states accumulating Bitcoin in their reserves continues to gain momentum with Missouri the latest addition. A bill introduced by lawmakers would allow the state treasurer to invest, purchase, and hold Bitcoin using state funds and donations from residents.

Similar to other states that have proposed similar legislation, the Missouri bill would enable the state treasurer to receive gifts, grants, and donations in the form of Bitcoin from residents or the government to contribute to the reserve. The bill also proposes allowing government entities to accept approved cryptocurrencies for citizens to pay taxes, fees, fines, or other expenses owed.

Missouri's proposed legislation comes amidst a growing trend of states looking to adopt digital assets as proceedings for the CLARITY Act progress. Several other states have introduced their own bills, including Arizona, South Dakota, Kansas, Utah, and Pennsylvania, which would allow them to accumulate Bitcoin in their reserves.