States likely to adopt Bitcoin reserves first: Report

US Senator Cynthia Lummis expects progress toward a Bitcoin reserve to be slower at the federal level.

States are likely to adopt Bitcoin (BTC) reserves before the US federal government does, Senator Cynthia Lummis reportedly said on Feb. 28 during the Bitcoin Investor Week conference in New York. 

“My bets are that you’ll see a state have a Bitcoin strategic reserve before the federal government,” Lummis said, according to a Bloomberg report. 

In July 2024, Lummis, a Wyoming Republican, proposed legislation that would require the US federal government to create a national Bitcoin stockpile. 

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