- Bitcoin Reserve Race in the United States:

In addition to the Trump administration's efforts on its strategic Bitcoin reserve, many U.S. states have joined the race to establish their own Bitcoin reserves, as shown in the chart below.

Legislation projects for the Bitcoin strategic reserve are in the process of approval and implementation. Source: Bitcoin Laws

Governor of New Hampshire, Kelly Ayotte, signed House Bill 302 (HB 302) into law, making it the first U.S. state to establish a Bitcoin strategic reserve. The law allows the state treasurer to invest up to 5% of public funds in precious metals or digital assets with a market value exceeding $500 billion, with Bitcoin being the only currency meeting this criterion. Although the bill does not explicitly mandate the creation of this reserve, it grants the state treasurer discretionary authority to invest in it.

Governor of Arizona, Katie Hobbs, signed House Bill 2749 (HB 2749), which authorizes the state to claim ownership of unclaimed digital assets, including cryptocurrencies, that have been abandoned for at least three years. The law also enables the creation of a Bitcoin and digital asset reserve fund, which will accumulate value from staking rewards and airdrops of these assets, without using taxpayer funds.

Following these announcements, Texas launched a state-funded Bitcoin reserve, becoming the first U.S. state to do so independently in late June. This marked the first U.S. state to authorize the creation of an independently funded reserve managed outside the state treasury.

Governor Greg Abbott approved Senate Bill 21 (SB 21), which empowers the Texas State Comptroller to manage the fund, allows qualified third parties to oversee the reserve, and requires that funds allocated by the legislature or from reserve revenues be invested in digital assets, similar to New Hampshire law.

Similar bills are under consideration in other state legislatures, including Massachusetts, Michigan, North Carolina, and Ohio, highlighting the increasing adoption of Bitcoin by U.S. states in 2025.

Cryptocurrencies in Retirement Plans
In August, President Trump signed an executive order opening the door for between $9 trillion and $12.5 trillion in 401(k) retirement funds, allowing investments in cryptocurrencies, private equity, and real estate.

Critics have condemned this move, arguing it could create instability in retirement accounts while details of the guidance remain undisclosed.

This order will enable digital assets, precious metals like gold, and private loans to be included in retirement plans as alternatives to traditional stock and bond portfolios.