Massachusetts lawmakers are set to hold a hearing on October 7 to discuss the creation of a state-backed Strategic Bitcoin Reserve (SBR), a move that could mark a turning point in U.S. crypto policy.
The hearing was announced by the state’s Joint Revenue Committee and stems from Senate Bill S.1967, introduced earlier this year by Republican Senator Peter J. Durant.
The proposal seeks to authorize the state to acquire and hold Bitcoin as part of its reserves, framing the cryptocurrency as both a hedge against inflation and a tool for diversifying assets.
Massachusetts Joins Growing U.S. Debate Over Bitcoin Reserves
If advanced, Massachusetts would become the first Democratic-led “deep blue” state to seriously consider building a Bitcoin reserve, indicating how digital assets are shifting from fringe speculation to mainstream financial strategy. The effort also reflects growing interest nationwide.
At the federal level, the BITCOIN Act of 2025, backed by Senator Cynthia Lummis and others, calls for the establishment of a national Bitcoin reserve.
The U.S. government already controls roughly 198,000 BTC, worth billions at current market prices.
Massachusetts’ hearing comes as other states move forward with similar measures. Texas and Utah have already passed legislation allowing for Bitcoin reserves, while Wyoming introduced the “State Funds-Investment in Bitcoin Act” earlier this year.
That bill, sponsored by Representative Jacob Wasserburger, authorizes up to 3% of certain state funds to be invested in Bitcoin, with strict security requirements for custody.
Wyoming Senator Cynthia Lummis, a leading proponent of Bitcoin adoption, has described such policies as “forward-thinking” strategies to strengthen state finances.
The Massachusetts bill will be reviewed in a legislature dominated by Democrats, with 132 seats in the House and 35 in the Senate compared with 25 and 5 for Republicans.
While the political balance may shape the debate, the very fact that such a measure has reached the committee stage shows Bitcoin’s growing legitimacy in state-level financial planning.
Supporters argue that a Bitcoin reserve could act as “digital gold,” offering protection against inflation and diversifying state assets in line with global trends.
Critics, however, warn of volatility and regulatory uncertainty. The committee is expected to weigh both fiscal impacts and security considerations before deciding the bill’s next steps.
The October 7 hearing is seen as a key moment not only for Massachusetts but for the broader question of whether U.S. states will increasingly adopt Bitcoin as a strategic reserve asset.
Washington Edges Closer to Strategic Bitcoin Reserve Amid Global Competition
The debate over a U.S. Strategic Bitcoin Reserve is gaining traction as both federal and state initiatives advance, showing growing momentum for Bitcoin as a national asset.
Alex Thorn, head of research at Galaxy Digital, said this month he believes Washington could formalize an SBR before the end of 2025.
In a post on X, Thorn argued the market is overlooking the possibility that the U.S. will soon announce it is officially holding Bitcoin as a strategic asset.
President Trump laid the groundwork in March, signing an executive order authorizing the creation of the SBR and a broader U.S. Digital Asset Stockpile.
While detailed plans have yet to emerge, lawmakers recently introduced a bill requiring the Treasury Department to study the reserve’s feasibility, including custody, cybersecurity, and accounting standards.
Not all observers expect swift action. Former CoinRoutes chairman Dave Weisberger predicted a launch in 2026, saying the administration may prefer to accumulate Bitcoin quietly before making a public declaration.
Others, including Jan3 CEO Samson Mow, have warned that delaying could leave the U.S. behind as rival nations accelerate their own reserves.
Internationally, Kyrgyzstan advanced legislation this month to establish a national crypto reserve, while the Philippines introduced a bill for a long-term Bitcoin holding strategy. Indonesia has also opened talks on the issue.
At the state level, Michigan lawmakers revived House Bill 4087, which would allow up to 10% of state funds to be allocated to Bitcoin and other cryptocurrencies. If passed, Michigan would join Texas, Arizona, and New Hampshire in pursuing sovereign crypto strategies.
With Bitcoin trading near $114,000, pressure is building on both Washington and U.S. states to clarify their positions as global competition over Bitcoin reserves intensifies.
The post Is Massachusetts About to Create a Strategic Bitcoin Reserve? Key Hearing Set for Oct 7 appeared first on Cryptonews.
