Bitcoin In The Heartland: Missouri Advances Strategic Reserve Bill

Missouri lawmakers moved a step closer to letting the state hold Bitcoin after a new bill was pushed forward for committee review. The proposal would set up a separate fund inside the state treasury to collect and keep Bitcoin under certain rules.

It is a sharp idea that has quickly drawn both praise and worry from different corners of finance and government.

Missouri Moves To Create A Bitcoin Reserve

According to reports, House Bill 2080 was advanced to the House Commerce Committee for further hearings and possible votes.

The move means lawmakers will get a chance to ask experts, hear public testimony, and amend the plan before it reaches a full vote. Time is limited in the session, but the committee stage gives the measure a clearer path forward.

The Bill’s Main Points

Reports say the measure would create a “Bitcoin Strategic Reserve Fund” that the state treasurer could manage. The fund could accept Bitcoin given as gifts, grants, donations, bequests, or devises from eligible Missouri residents or certain government entities.

Holdings placed into the fund would face a minimum five-year hold before they could be converted, moved, or sold.

Based on reports in the official bill text, the treasurer must follow custody safeguards meant to protect the assets, including cold-storage protocols and restrictions on dealing with foreign actors or entities linked to illegal activity.

Third-party custodial contracts are allowed to secure the holdings. The treasurer would also publish a biennial report detailing what’s in the fund and how it has been handled.

Reports note the bill was introduced by Ben Keathley and supporters argue it offers a way for the state to accept crypto gifts without exposing general funds to uncontrolled risk.

Critics warn about price swings and the political risk of putting public assets into a single volatile asset. The debate will likely focus on how strict the safeguards must be and whether the state really needs exposure to Bitcoin at all.

The plan includes specific transparency rules. The treasurer must post a report before December 31 of each even-numbered year that explains holdings, transactions, and safeguards used.

Transactions with persons or groups outside the state and known to engage in illegal acts would be barred. These clauses aim to limit legal and reputational exposure while keeping a paper trail for public oversight.

Featured image from Unsplash, chart from TradingView