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The Massachusetts Bitcoin reserve bill, aimed at allowing the state to hold Bitcoin as part of its financial reserves, has hit an early snag. During its first public hearing in eight months, state lawmakers offered little to no feedback which is a sign that enthusiasm for state-level crypto adoption may be cooling.
Formally titled An Act Relative to a Bitcoin Strategic Reserve, the bill was introduced by Republican Senator Peter Durant and presented before the Joint Committee on Revenue this week. It would authorize the state treasury to allocate up to 10% of the Commonwealth Stabilization Fund as a reserve worth billions into Bitcoin and other digital assets.
“This creates a prudent diversification tool, ensuring transparency, oversight, and risk management without mandating any action, “Durant told the committee. But after his remarks, members sat silent. No follow-up questions were asked — a quiet reception marking the bill’s first official activity since its February 2025 introduction.
The committee now has 60 days to advance, amend, or shelve the proposal. Durant later said he remains “optimistic” that bipartisan interest will emerge as discussions continue.
Despite the muted session, proponents believe the Massachusetts Bitcoin reserve bill could set a precedent for state-level digital asset adoption.
Dennis Porter, CEO of the Satoshi Action Fund, testified in support, describing Massachusetts as “a historic financial hub” capable of leading a new era of Bitcoin policy. “The state that pioneered America’s first mutual fund should be at the forefront of this next chapter in financial innovation,” Porter argued.
Porter also noted that similar measures have already passed in states like Texas, Arizona, and New Hampshire, showing that bipartisan progress on Bitcoin reserves is possible.
However, the silence in Boston reflects a wider hesitation across U.S. legislatures. According to Bloomberg, at least four states rejected Bitcoin reserve proposals earlier this year, citing volatility and fiscal risk.
Jennifer Schulp, Director of Financial Regulation Studies at the Cato Institute, said that “even in bullish conditions, Bitcoin’s price swings make lawmakers nervous about committing taxpayer funds.”
Across the country, several states have experimented with digital asset reserve frameworks. New Hampshire became the first to approve a Bitcoin reserve law in May 2025, followed by Texas and Arizona, which both enacted smaller-scale initiatives.
But other efforts in Wyoming, Montana, Pennsylvania, and North Dakota have either stalled or been rejected. Data from Bitcoin Reserve Monitor shows that over two dozen states introduced Bitcoin-reserve bills in 2025, though most remain in committee.
The Massachusetts Bitcoin reserve bill now joins that uncertain list, arriving at a time when legislative patience for crypto experiments appears to be waning.
The state debate unfolds against a backdrop of growing federal and international momentum. In March 2025, President Donald Trump signed an executive order establishing a U.S. Strategic Bitcoin Reserve, to be funded with Bitcoin seized by federal agencies.
Meanwhile, Senator Cynthia Lummis introduced legislation that would authorize the U.S. Treasury to purchase up to one million BTC over five years which is a plan she called “a fabulous articulation” of why the U.S. should treat Bitcoin as a strategic asset.
Globally, momentum is also building. Sweden’s parliament recently tabled a motion for a national Bitcoin strategy, while Kyrgyzstan and the Philippines are studying similar frameworks.
Still, critics insist volatility and security concerns make Bitcoin unsuitable for public treasuries. “It’s one thing for private funds to speculate,” wrote analysts at The Block, “but quite another when the money belongs to taxpayers.”
With the committee expected to issue its decision by December, the Massachusetts Bitcoin reserve bill now stands at a crossroads. If advanced, Massachusetts could join a small but growing group of U.S. states formally integrating digital assets into public finance.
If rejected, it may become another example of political caution overtaking crypto enthusiasm in the face of macroeconomic uncertainty.
For now, Senator Durant remains hopeful. “We’re working to educate every stakeholder,” he said. “This is about responsible innovation, not speculation.”
For investors, the fate of the Massachusetts Bitcoin reserve bill will signal whether digital assets can move from the fringes of policy debates into the core of U.S. fiscal strategy.
