As of February 2025, a growing number of U.S. states are exploring the adoption of Bitcoin and digital assets, with at least 32 states introducing related legislation. This surge in interest signals a significant shift in the perception and potential integration of cryptocurrencies into state financial systems.

Several states are considering establishing strategic Bitcoin reserves as a hedge against inflation and a means of diversifying their financial holdings. Investment management firm VanEck estimates that if enacted, these bills could result in states collectively acquiring approximately 247,000 BTC, valued at around $23.7 billion. States like Alabama, Arizona, Florida, Kansas, Illinois, Iowa, Massachusetts, Michigan, Missouri, Montana, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Pennsylvania, South Dakota, Texas, Utah, Wisconsin and Wyoming are exploring such measures. For example, Wisconsin has already invested in Bitcoin ETFs.

This wave of pro-Bitcoin and digital asset policies across the U.S. is further supported by the Trump Administration's recent executive order, which aims to foster responsible growth and innovation in the digital financial technology sector. The executive order is a shift from previous restrictive policies, and it emphasizes regulatory clarity and the protection of blockchain-based activities. This includes the protection of fundamental blockchain activities, such as self-custody, mining, and permissionless transactions. The executive order has also called for a review of digital asset regulations and a ban on a U.S. central bank digital currency (CBDC) while affirming support for USD-backed stablecoins.