Massachusetts Proposes Strategic Bitcoin Reserve Using 10% of $9 Billion Fund, 10th State to Do So

Jan 17, 2025, 06:45 PM

Massachusetts Senator Peter Durant has introduced a bill to establish a Strategic Bitcoin Reserve, marking the first such legislation in a deep blue state. The bill proposes to allocate up to 10% of the state's $9 billion Commonwealth Stabilization Fund into Bitcoin. This move makes Massachusetts the 10th state in the U.S. to introduce similar legislation, following Wyoming, New Hampshire, Alabama, Florida, Pennsylvania, Texas, Ohio, North Dakota, and Oklahoma.