The post Missouri Proposes Bitcoin Reserve Bill – Is $250K BTC Coming Soon? appeared first on Coinpedia Fintech News
Another Day and Another U.S. state propose a Bitcoin reserve fund for state investments. The latest push comes from Missouri, where a new bill proposes a Bitcoin reserve fund for state investments. This move aligns with former President Donald Trump’s campaign promise, which seems to be gaining traction.
With 17 U.S. states now considering Bitcoin as part of their reserves, many experts believe this could be a major step toward BTC reaching $250K.
Missouri Pushes for a Bitcoin Reserve Fund
Missouri state Representative Ben Keathley has introduced House Bill 1217, which aims to make Bitcoin a part of the state’s financial strategy. The bill, filed on February 6, proposes that Missouri’s treasurer should have the power to receive, invest, and hold Bitcoin under specific conditions.
If approved, Missouri would also begin accepting Bitcoin for tax payments, fees, fines, and other government-related transactions. However, those making payments in Bitcoin would need to cover transaction fees.
This bill could set an example for more states to include digital assets in their financial policies.
Kentucky Join The List
Missouri is not alone in this initiative. Recently Kentucky State Representative TJ Roberts introduced Bill HB376, which proposes that 10% of the state’s funds be invested in Bitcoin and other digital assets with a market cap exceeding $750 billion.
As of now, Bitcoin remains the top digital asset, making it the primary target for such investments.
Bitcoin Eye For $250K
Bitcoin is gaining more attention in the U.S. political space, with more states looking to add it to their financial reserves. However, Bitcoin is currently consolidating under $100K, but many experts believe these political moves could drive it to new highs.
Eventually, Fundstrat’s head of research, Tom Lee, predicts Bitcoin could hit $250K by the end of the year. Similarly, former BitMEX CEO Arthur Hayes has also shared a bullish outlook, expecting BTC to reach $250K.