The American States of Illinois and Indiana joined Arizona and Utah and present bills to establish a Bitcoin Strategic Reserve in the Eya. The two join a growing list of US states that explore Bitcoin as financial assets.

While Illinois aims to create a Bitcoin reserve fund, Indiana's bill differs slightly. It explores how blockchain technology can improve the operations of state agencies. In addition, the project explores investments in Bitcoin's negotiated funds (ETFS).

Illinois bet on a Bitcoin reserve in the USA

Illinois state representative John M. Cabello introduced Bill 1844 (HB1844), also known as Bitcoin Strategic Reserve Law. The project highlights the potential of Bitcoin as a decentralized and finite digital asset that could serve as protection against inflation and economic volatility.

A Bitcoin Strategic Reserve is aligned with Illinois's commitment to foster innovation in digital assets and provide the inhabitants of Illinois greater financial security, details the bill.

The proposed bill seeks to establish the Bitcoin Strategic Reserve Fund, supervised by the State Treasurer. It offers provisions to accept Bitcoin donations from residents and government entities.

In addition, the project specifies a minimum retention period of five years. Therefore, any bitcoin added to the bottom would be kept by the specified time before the state could sell it, transfer it or convert it to another cryptocurrency.

The project also establishes guidelines for fund safety and management. And requires transparency through regular reports and gives the state treasurer the power to define necessary rules.

Indiana Bitcoin Strategy

Meanwhile, Indiana is adopting a slightly different approach. Bill 1322, authored by state representative, Jake Teshka and co -authorship of representatives Shane Lindauer and Cory Criswell, focuses on both Blockchain adoption and investment strategies in Bitcoin.

This project directs the administration department to explore how blockchain could improve government efficiency, data security and consumer experience.

The Administration Department (department) must issue an information request to explore how blockchain use could be used by a state agency to: (1) achieve greater efficiency and cost effectiveness; and (2) improve the convenience, experience, data security and privacy of consumer data ”, says the HB1322.

It also paves the way for state -managed investment in Bitcoin. The project allows funds from the Public Official Retirement Fund, State Teachers' Retirement Fund and Public Officer Funds to be invested in Bitcoin Bolsa Funds (ETF) approved.

These include Bitcoin ETFs in sight, which hold Bitcoin directly. In addition, it includes Bitcoinnm futures ETFs that accompany Bitcoin price movements through derivatives.

This movement occurs while Utah and Arizona advance with legislation to invest public funds in digital assets. In addition, Texas deputy governor Dan Patrick made Bitcoin reserve a 2025 priority.

Similar proposals from Dakota do Sul and Kentucky can follow as state representatives are preparing to introduce bills by creating a Bitcoin strategic reserve.