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US State of Missouri Pushes for Bitcoin Strategic Reserve: A Bold Second Attempt

The state of Missouri is taking significant steps towards adopting Bitcoin as a reserve asset.

A new bill, HB2080, aimed at creating a Bitcoin Strategic Reserve Fund, has recently progressed to the House Commerce Committee.

This move follows an earlier attempt last February when a similar proposal failed to pass.

If successful, the bill will empower the Missouri State Treasurer to purchase, invest in, and hold Bitcoin under specific conditions.

The fund will also have the capacity to acquire Bitcoin through donations from both government agencies and residents.

Notably, the bill includes a stringent storage requirement, mandating that any Bitcoin acquired must be held in cold storage for at least five years.

This long-term storage strategy indicates that Missouri is viewing Bitcoin as a strategic asset rather than a vehicle for short-term gains.

Should the committee approve the bill, it will move to a vote in the House before proceeding to the Senate and the governor for final approval.

If enacted, Missouri would join a select group of states like Florida, New Hampshire, Wyoming, and Texas that are embracing digital assets.

As states increasingly explore cryptocurrency legislation, Missouri's efforts represent a growing acceptance of Bitcoin within the treasury strategies of U.S. states.