Minnesota and Alabama File Companion Bills to Invest in Bitcoin, What’s Next?

Minnesota and Alabama have entered the growing list of U.S. states seeking to invest in Bitcoin, with lawmakers in both states introducing bills that could pave the way for official crypto holdings.

On April 1, Minnesota Representative Bernie Perryman introduced the Minnesota Bitcoin Act (HF 2946), a bill allowing the state’s investment board to allocate assets into BTC and other cryptocurrencies. The bill follows a similar initiative by Republican state Senator Jeremy Miller, who proposed an identical measure on March 17.

If passed, the bill would not only allow direct state investment in BTC but also enable government employees to add crypto to their retirement accounts and even pay taxes in BTC.

Simultaneously, in Alabama, Senator Will Barfoot and Representative Mike Shaw, alongside a bipartisan group of lawmakers, filed Senate Bill 283 and House Bill 482, respectively. 

While these bills don’t explicitly mention any cryptocurrency name, they restrict crypto investments to assets with a market capitalization of at least $750 billion—a benchmark that only BTC currently meets.

Bitcoin Reserve Bills Gain Momentum

Minnesota’s initiative takes a more aggressive approach by proposing crypto tax exemptions, a move that could make the state one of the most Bitcoin-friendly jurisdictions in the U.S. Meanwhile, Alabama’s lawmakers have opted for a more discreet yet strategically framed bill to align with broader financial regulations while still prioritizing Bitcoin.

The push for Bitcoin reserves is gaining traction nationwide. According to Bitcoin Laws, 26 states have introduced similar bills, attempting to establish BTC holdings at the state level.

Arizona is currently leading the charge, with its legislation being the closest to passing. However, not all states have seen success—efforts in Pennsylvania, Montana, North Dakota, South Dakota, and Wyoming have been shut down for various political and regulatory reasons.

Political Divide Slowing Down Adoption

A key challenge for Bitcoin reserve bills has been the political divide. A March 3 Barron’s report noted that many “red states” such as Montana have faced resistance due to ongoing partisan disputes.

While Republican-led states generally favor BTC as an alternative asset class, Democratic opposition has led to several legislative failures.

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