Iowa lawmakers have introduced House File 246 (HF 246), a bill that would allow the state treasurer to invest up to 5% of public funds in digital assets with a market capitalization exceeding $750 billion, as well as precious metals and stablecoins. The bill, sponsored by Representative Collins, specifies that investments can be made using money from the general fund, the cash reserve fund, and the Iowa economic emergency fund.
Latest Bitcoin Reserve Bills in U.S.
Under the proposed legislation, Bitcoin qualifies as an eligible investment, given its market capitalization surpasses the $750 billion threshold. If passed, Iowa would join a growing list of U.S. states exploring BTC as part of their public finance strategy.
Similarly, New Mexico has introduced Senate Bill 275 (SB 275), also known as the Strategic Bitcoin Reserve Act. Sponsored by Senator Anthony L. Thornton, the bill proposes allocating up to 5% of public funds into Bitcoin. Investments would be drawn from the land grant permanent fund, severance tax permanent fund, tobacco settlement permanent fund, and other state funds deemed appropriate by the state investment council.
The push for Bitcoin investments is also gaining attention at the federal level. The White House’s AI and crypto policy lead, David Sacks, confirmed that reviewing Bitcoin as a potential strategic reserve asset is a priority for the administration’s digital assets working group.
“One of the things that the President instructed us to do was to evaluate the idea for a Bitcoin reserve,” Sacks stated at a press conference with Republican lawmakers. He emphasized that while the review is in its early stages, it remains a key focus for the administration’s internal discussions on digital assets.
