Utah could become the first U.S. state to create a Bitcoin reserve with legislation already being considered. On January 28, one of Utah’s house committees voted 8-1 in favor of a bill named the “Blockchain and Digital Innovation Amendments” that would allow the state to invest a portion of its public funds in Bitcoin and other cryptocurrencies. Utah’s interest in Bitcoin is not new, having had a digital asset task force in place since 2022, which allows for ongoing work on cryptocurrency policy.

Recently, Texas Lieutenant Governor Dan Patrick unveiled plans to establish a Bitcoin reserve in 2025, listing a “Texas Bitcoin Reserve” among his top 40 legislative priorities.

This initiative follows a similar effort by State Senator Charles Schwertner, who introduced legislation on Jan. 16. Schwertner wrote on X that a Texas Bitcoin Reserve would position the state as a leader in the digital economy, fostering growth and securing economic freedom.

Last month, the Arizona Senate Finance Committee approved the “Arizona Strategic Bitcoin Reserve Act” in a 5-2 vote, marking a significant step toward investing public funds in Bitcoin. Co-sponsored by State Senator Wendy Rogers and State Representative Jeff Weninger, the bill proposes allocating up to 10% of public funds — managed by the state treasurer and retirement systems — into Bitcoin and other cryptocurrencies.

Illinois is also working on a Bitcoin strategic reserve bill, aiming to position the cryptocurrency as a financial savings tool. The proposed House Bill 1844, introduced by State Representative John Cabello, seeks to create a strategic Bitcoin reserve as a special fund within the state treasury to hold Bitcoin as a financial asset.

A key feature of the bill is its mandated minimum five-year holding period. After this term, the state treasury would have the flexibility to transfer, sell, appropriate, or convert the Bitcoin into another cryptocurrency.

Pennsylvania was the first state to introduce a Bitcoin reserve bill in November 2024. Several other states have either proposed or passed similar legislation, including Florida, Alabama, Massachusetts, Kentucky, Montana, New Hampshire, North Dakota, Oklahoma, Ohio, South Dakota, and Wyoming.

Depending on the enthusiasm and momentum of these early adopter states, more local governments could soon propose similar Bitcoin reserve legislation in the coming months.