Missouri lawmakers advance House Bill 2080 to allow state treasurer to hold Bitcoin for strategic reserve in Jefferson City

Missouri lawmakers are reigniting the conversation about state-managed cryptocurrency.

Last week, the revived House Bill 2080 cleared an initial hurdle and was sent to the House Commerce Committee for review, signaling the next phase in a process that could see Missouri become one of the first U.S. states with a strategic Bitcoin reserve.

The legislation, introduced by Ben Keathley in January, proposes that the state treasurer be authorized to purchase, hold, and manage Bitcoin (BTC) using state funds.

While the bill still faces multiple stages of scrutiny, including a public hearing and committee vote, its advancement marks a notable step in state-level crypto policy.

How the Missouri Bitcoin Reserve Would Work

Under House Bill 2080, the treasurer could also accept gifts, grants, and donations from residents or government bodies to help build the reserve.

Bitcoin held by the state would have a five-year holding period before the treasurer could transfer, sell, or convert it into another approved token.

Importantly, the bill restricts transactions with foreign entities, meaning the reserve would focus exclusively on Missouri-based participants.

Another key feature allows government entities to accept approved cryptocurrencies for taxes, fees, fines, or other payments, effectively opening the door for citizens to interact with public offices using digital assets.

Public Interest and Economic Implications

While the public hearing date hasn’t been finalized, the legislation carries a proposed effective date of August 28.

If the House approves the bill, it will then move to the Senate for committee review, debate, and vote before heading to Mike Kehoe for signature or veto.

Industry observers have taken note of the potential scale.

Asset manager VanEck estimated last year that if states like Missouri adopt strategic Bitcoin reserves, it could generate more than $23 billion in additional demand for the cryptocurrency.

For a state-managed asset program, that’s a significant figure and one that could influence the broader U.S. crypto landscape.

Lessons From a Previous Attempt

This isn’t Missouri’s first attempt at a state Bitcoin reserve.

A similar bill, House Bill 1217, was introduced last February but died in committee.

While a public hearing occurred, the bill never advanced for a full House vote, highlighting the legislative challenges that crypto-related proposals can face.

The revival under House Bill 2080 demonstrates renewed political interest and a more structured approach, with lawmakers aiming to address past roadblocks and outline clear operational and legal frameworks for managing digital assets at the state level.

What’s Next?

The immediate focus is the House Commerce Committee, where lawmakers will examine the bill, hold public hearings, and decide whether to recommend amendments.

Public commentary could influence how the reserve is structured, including rules around purchases, storage, and government use of cryptocurrency for payments.

Following committee approval, the bill will return to the House for debate and a vote.

If successful, it will move to the Senate, with final approval dependent on Gov. Mike Kehoe’s signature.

The next few months will determine whether Missouri becomes a pioneering state in strategic Bitcoin reserves or if this initiative faces another legislative dead end.

Summary

Missouri’s House Bill 2080, aimed at establishing a state-managed Bitcoin reserve, has been sent to the House Commerce Committee for review.

Introduced by Rep. Ben Keathley, the bill would allow the state treasurer to invest in, purchase, and hold Bitcoin for five years, accept donations from residents or government entities, and enable certain cryptocurrencies for public payments.

Previous attempts, like House Bill 1217, failed at the committee stage.

Public hearings and committee votes are expected to shape the bill before it returns to the House, then potentially moves to the Senate and Governor Mike Kehoe for final approval.