With at least 18 states, including Arizona and Utah, reviewing crypto reserve legislation, the movement is gaining traction beyond traditional political lines.
US states may start holding Bitcoin reserves before the federal government, according to Senator Cynthia Lummis. Speaking at the Bitcoin Investor Week conference in New York, Lummis suggested that individual states are moving faster than Washington in recognising Bitcoin’s strategic value.
Lummis had previously proposed the BITCOIN Act, a bill that would require the US Treasury to gradually accumulate 1 million BTC, mirroring the scale of the country’s gold reserves. While President Trump has signed orders to explore a national Bitcoin stockpile and a sovereign wealth fund, state-level initiatives appear to be progressing more rapidly.
At least 18 states currently have crypto reserve bills under review, with Arizona and Utah nearing approval. Some Democrat-led states may push back, but crypto support is growing across party lines. Coinbase’s US policy manager Ashley Gunn noted that many pro-crypto states do not strictly align with traditional political divisions.
Bitcoin adoption in the US has already surged with the launch of exchange-traded funds (ETFs), but analysts believe a government-backed Bitcoin reserve would be an even bigger milestone. With Bitcoin ETFs now holding over $100 billion worth of BTC, the prospect of states or federal institutions joining the trend could further accelerate adoption.
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