State government financial reports or announcements

Eight U.S. States Pursue Strategic Bitcoin Reserves as Trump Considers Day 1 Executive Order

Jan 16, 2025, 08:06 PM

Eight U.S. states—Florida, Alabama, New Hampshire, Pennsylvania, Ohio, North Dakota, Oklahoma, and Texas—are actively pursuing legislation to establish a Strategic Bitcoin Reserve. This initiative reflects a growing interest in Bitcoin as a state asset, with Oklahoma being the latest to join this effort. Concurrently, there is significant political momentum for President-elect Donald Trump to implement a federal Bitcoin reserve program, with reports suggesting that he may issue a Day 1 executive order to establish such a reserve. The New York Times has reported on this momentum, indicating that the cryptocurrency industry has been pushing Trump to create a government program to buy and hold billions of dollars in Bitcoin, potentially starting with existing seized assets and expanding further. Trump's campaign promise to create a federal 'Bitcoin stockpile' as a national asset has fueled these discussions, with industry executives lobbying to shape the proposal. The potential federal reserve aims to provide economic resilience and geopolitical influence.