U.S. States Push for Public Crypto Investments as Trump Backs Bitcoin

Several U.S. states are advancing efforts to allocate public funds into cryptocurrencies, following President Donald Trump’s endorsement of a federal crypto reserve. Texas is emerging as a leader in this movement, with its state senate passing SB 21, a bill allowing investment in bitcoin (BTC). Senator Charles Schwertner emphasized bitcoin’s resilience through market cycles, calling it a strong reserve asset amid economic uncertainty.

New Hampshire is also making strides, with its House Bill 302 passing a state house committee by a 16-1 vote. If fully approved, it would permit the state to invest up to 5% of public funds in bitcoin and precious metals.

Nearly a dozen states have introduced similar bills, while five have faced setbacks. Utah is closest to passing legislation, needing only a final senate approval before sending its bill to Governor Spencer Cox, a blockchain policy supporter. However, with the legislative session ending this week, time is running out. If Utah stalls, states like Arizona and Texas could take the lead.

Meanwhile, Trump reiterated his plan for a U.S. strategic crypto reserve, proposing holdings in Bitcoin, Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Industry leaders have pushed back, arguing bitcoin aligns best with traditional reserve assets like gold. Trump has yet to clarify how the government would acquire and manage these assets.

As crypto adoption gains momentum, state-level initiatives signal growing mainstream acceptance of digital assets. If successful, these investments could reshape public finance and strengthen bitcoin’s role as a legitimate reserve asset.