Minnesota is the latest American state to consider legislation concerning cryptocurrency. The Minnesota Bitcoin Act is somewhat deceptively titled, however, as the bill refers to “Bitcoin and other cryptocurrencies” throughout.

Rep. Nick Begich (R-AK) announced Tuesday that he is introducing legislation that establishes a strategic bitcoin reserve, an idea that has gained traction since President Donald Trump’s victory. Begich announced the legislation during a Washington,

Tuberville’s office wrote that, if the BITCOIN Act is passed and the total sum proposed is acquired, the reserve’s stake will make up roughly a five percent of total Bitcoin supply. This is a figure they say is roughly equivalent to the U.S.’s gold reserves.

Trump’s executive order establishes a Bitcoin reserve while relegating other cryptos to a stockpile. Market reaction, insider concerns, and policy implications unpacked.

Sen. Cynthia Lummis, R-Wyo., reintroduced her bill to create a strategic bitcoin reserve, following an executive order signed by President Donald Trump to create one.

Texas Senator Reynolds introduced a new crypto-related bill before the Senate. The proposed legislation allocates $250 million from the state’s economic stabilization fund to Bitcoin and other digital assets.

The Trump administration clearly believes bitcoin is important. But will the U.S. Treasury be able to add to its new bitcoin reserve while remaining budget-neutral?