Following what has been a growing trend within the country, Massachusetts State Senator Peter Durant has officially introduced legislation to create a strategic Bitcoin reserve in the state. In fact, the Worcester County native joined Texas, Pennsylvania and Oklahoma as states consider similar bills.
The move precedes what is widely expected to be a bill on strategic bitcoin reserves passed by US President-elect Donald Trump. Indeed, Trump has long discussed the potential legislation. Specifically, many expect the move to be part of his comprehensive plan to renew the country’s approach to the asset class.
JUST IN: 🇺🇸 Massachusetts Senator Peter Durant introduces a bill to create a strategic bitcoin reserve.
— Watcher.Guru (@WatcherGuru) 17 January 2025
Massachusetts is the latest state to seek the creation of a strategic Bitcoin reserve
Things are changing tremendously for the cryptocurrency industry in the United States. With Donald Trump which will be inaugurated in just three days, all eyes are on his policy on digital assets. Indeed, he will enter the White House as the first true pro-crypto president in history.
Moreover, he is expected to deliver on his promises quite early into his term. Now, a host of US states are trying to prepare for his arrival with their own pro-crypto legislation. Joining a growing list is Massachusetts, which has seen state Sen. Peter Durant introduce legislation to create a strategic Bitcoin book.
Read also: Donald Trump sees strategic reserve for coins like Solana, XRP
“It’s not like we’re saying divest everything and put it into Bitcoin,” Durant said Friday. “But we think it makes sense as part of the Commonwealth’s portfolio.” Member of the Conversley, California State Assembly Philip Chen, revealed a similar development. He appointed a non-profit organization to develop wildlife law in the West Coast state. Moreover, it seems that the growing trend is not going to slow down anytime soon.
