Missouri Representative Ben Keathley has taken a bold step by introducing House Bill 1217 aimed at establishing a Bitcoin Strategic Reserve Fund to strengthen the state’s financial strategy. Filed on February 6 the bill encourages diversification of Missouri’s investment portfolio by incorporating Bitcoin valued at $97,307 as a key asset. This move seeks to protect the state’s finances against inflation of fiat currencies while positioning Missouri at the forefront of digital currency adoption.

The proposed legislation authorizes the Missouri state treasurer to manage the fund which includes acquiring and holding Bitcoin. Contributions can be received as gifts or donations not only from governmental entities but also from residents of Missouri. The bill outlines a strategy for holding Bitcoin for at least five years ensuring a long-term investment approach to maximize potential gains.

Further solidifying the state’s commitment to blockchain technology the bill would mandate all governmental entities in Missouri to accept cryptocurrency for various payments including taxes and fines. This progressive move highlights Missouri’s initiative to integrate modern financial technologies fostering a more inclusive and forward-thinking economic environment.