PANews reported on December 8 that according to DL News, the possibility of Trump creating a national Bitcoin reserve is a major factor in driving the cryptocurrency market to new heights. Now the momentum of the US strategic Bitcoin reserve is penetrating to the state level, such as:

  • Florida is taking steps to establish a strategic Bitcoin reserve as early as the first quarter of 2025;
  • Pennsylvania is also working on its own Bitcoin Strategic Reserve Act, which was introduced in November and would see 10% of the state’s general fund invested in Bitcoin.

While Florida and Pennsylvania are aiming to buy Bitcoin outright, other states like Michigan and Wisconsin have chosen a more conservative route, investing in Bitcoin-related ETFs and trusts:

  • U.S. SEC documents show that as of September, Michigan held $11 million worth of ARK 21Shares Bitcoin ETF;
  • The Wisconsin Investment Board holds more than $220 million worth of Grayscale and BlackRock Bitcoin ETF shares.