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Is Massachusetts About to Create a Strategic Bitcoin Reserve? Key Hearing Set for Oct 7

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Massachusetts lawmakers are set to maintain a listening to on October 7 to focus on the creation of a state-backed Strategic Bitcoin Reserve (SBR), a transfer that might mark a turning level in U.S. crypto coverage.

The hearing was announced by the state’s Joint Revenue Committee and stems from Senate Bill S.1967, introduced earlier this year by Republican Senator Peter J. Durant.

The proposal seeks to authorize the state to purchase and maintain Bitcoin as a part of its reserves, framing the cryptocurrency as each a hedge towards inflation and a software for diversifying property.

Massachusetts Joins Growing U.S. Debate Over Bitcoin Reserves

If superior, Massachusetts would turn into the primary Democratic-led “deep blue” state to severely think about constructing a Bitcoin reserve, indicating how digital property are shifting from fringe hypothesis to mainstream monetary technique. The effort additionally displays rising curiosity nationwide.

At the federal degree, the BITCOIN Act of 2025, backed by Senator Cynthia Lummis and others, calls for the institution of a nationwide Bitcoin reserve.

The U.S. authorities already controls roughly 198,000 BTC, value billions at present market costs.

Massachusetts’ listening to comes as different states transfer ahead with comparable measures. Texas and Utah have already handed laws permitting for Bitcoin reserves, whereas Wyoming launched the “State Funds-Investment in Bitcoin Act” earlier this yr.

That invoice, sponsored by Representative Jacob Wasserburger, authorizes up to 3% of sure state funds to be invested in Bitcoin, with strict safety necessities for custody.

Wyoming Senator Cynthia Lummis, a main proponent of Bitcoin adoption, has described such insurance policies as “forward-thinking” methods to strengthen state funds.

The Massachusetts invoice might be reviewed in a legislature dominated by Democrats, with 132 seats within the House and 35 within the Senate in contrast with 25 and 5 for Republicans.

While the political stability might form the controversy, the actual fact that such a measure has reached the committee stage exhibits Bitcoin’s rising legitimacy in state-level monetary planning.

Supporters argue that a Bitcoin reserve may act as “digital gold,” providing safety towards inflation and diversifying state property in keeping with international traits.

Critics, nonetheless, warn of volatility and regulatory uncertainty. The committee is predicted to weigh each fiscal impacts and safety concerns earlier than deciding the invoice’s subsequent steps.

The October 7 listening to is seen as a key second not solely for Massachusetts however for the broader query of whether or not U.S. states will more and more undertake Bitcoin as a strategic reserve asset.

Washington Edges Closer to Strategic Bitcoin Reserve Amid Global Competition

The debate over a U.S. Strategic Bitcoin Reserve is gaining traction as each federal and state initiatives advance, exhibiting rising momentum for Bitcoin as a nationwide asset.

Alex Thorn, head of analysis at Galaxy Digital, mentioned this month he believes Washington could formalize an SBR earlier than the top of 2025.

In a put up on X, Thorn argued the market is overlooking the chance that the U.S. will quickly announce it’s formally holding Bitcoin as a strategic asset.

President Trump laid the groundwork in March, signing an executive order authorizing the creation of the SBR and a broader U.S. Digital Asset Stockpile.

While detailed plans have but to emerge, lawmakers not too long ago launched a invoice requiring the Treasury Department to research the reserve’s feasibility, together with custody, cybersecurity, and accounting requirements.

Not all observers anticipate swift motion. Former CoinRoutes chairman Dave Weisberger predicted a launch in 2026, saying the administration might desire to accumulate Bitcoin quietly earlier than making a public declaration.

Others, together with Jan3 CEO Samson Mow, have warned that delaying may depart the U.S. behind as rival nations speed up their very own reserves.

Internationally, Kyrgyzstan advanced legislation this month to set up a nationwide crypto reserve, whereas the Philippines introduced a bill for a long-term Bitcoin holding strategy. Indonesia has additionally opened talks on the difficulty.

At the state degree, (*7*), which might enable up to 10% of state funds to be allotted to Bitcoin and different cryptocurrencies. If handed, Michigan would be part of Texas, Arizona, and New Hampshire in pursuing sovereign crypto methods.

With Bitcoin buying and selling close to $114,000, stress is constructing on each Washington and U.S. states to make clear their positions as international competitors over Bitcoin reserves intensifies.

The put up Is Massachusetts About to Create a Strategic Bitcoin Reserve? Key Hearing Set for Oct 7 appeared first on Cryptonews.

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