Massachusetts Considers Crypto Investment Bill
Massachusetts is set to consider a bill that would allow the state to invest in cryptocurrencies, including Bitcoin, using public funds. The proposal, introduced by Republican Senator Peter J. Durant, aims to hedge against inflation and diversify government assets. The bill's hearing is scheduled for the near future.
The bill, if passed, would permit the use of up to 10% of the Commonwealth Stabilization Fund for crypto investments. This move aligns with a broader push by Republican lawmakers across several states to adopt cryptocurrency reserves. The proposal is not without challenges, however. Massachusetts' Democrat-controlled legislature may impact the bill's chances of passing.
The bill also includes provisions to deposit seized digital assets into a reserve. This is not Durant's first attempt to establish a Bitcoin Strategic Reserve Fund in Massachusetts. In 2025, he proposed a similar bill, indicating that Republicans at the federal level may pursue a similar strategy.
Massachusetts is poised to discuss a bill that could see the state investing in cryptocurrencies. The proposal, while facing political challenges, reflects a growing interest in digital assets among Republican lawmakers. If passed, the bill could pave the way for other states to follow suit.
