Massachusetts Bitcoin Reserve Bill Receives Silent Treatment at Legislative Hearing
Massachusetts state lawmakers held a hearing on a Bitcoin strategic reserve bill on Tuesday, but the proposal received no questions from legislators. According to Cointelegraph, State Senator Peter Durant testified before the Joint Committee on Revenue about his bill that would allow up to 10% of state funds for crypto investments. The Republican senator described the legislation as a "prudent diversification tool" with full transparency and oversight. However, when Durant opened the floor for questions, no committee members responded. The bill has been dormant for eight months since its February introduction.
Dennis Porter, CEO of the Satoshi Action Fund, also testified at the hearing. Porter urged Massachusetts to consider itself as well-suited to lead crypto adoption efforts. He described similar legislation in other states as bipartisan in nature. The hearing took place at the Massachusetts State House with the Joint Committee on Revenue overseeing the proceedings.
Lukewarm Response Reflects Growing Skepticism Among State Legislators
The silence at Tuesday's hearing reflects a broader shift in state-level enthusiasm for Bitcoin reserves. Bloomberg reported in late February that four states rejected crypto reserve bills within one month. Jennifer Schulp from the Cato Institute noted that volatility concerns continue to affect legislative support. She told Bloomberg that Bitcoin's price fluctuations remain an issue even in positive market conditions.
Massachusetts Democrats control both legislative chambers with supermajorities and hold the governorship. This political reality makes passage of Durant's Republican-sponsored bill uncertain. The Commonwealth Stabilization Fund currently holds billions in state reserves. Durant's proposal would redirect a portion of these funds into digital assets including seized cryptocurrencies. The bill also permits adding Bitcoin obtained through state law enforcement seizures to the reserve.
We reported in February that 15 US states moved forward with Bitcoin reserve plans following President Trump's executive order. However, Massachusetts appears to lag behind states like New Hampshire and Arizona in generating legislative momentum. The lack of committee engagement suggests the bill faces significant hurdles to advance through the legislative process.
State Reserve Movement Loses Momentum After Initial Enthusiasm
The Massachusetts hearing outcome reflects a challenging period for state Bitcoin reserve initiatives nationwide. Only three states have successfully passed reserve-related legislation as of October 2025. New Hampshire became the first state to sign a Bitcoin reserve bill into law in May, followed by Arizona. Texas authorized a reserve but funded it with just $10 million in June, according to Bitcoin Reserve Monitor.
Many other states have seen their proposals stall or fail outright. Wyoming, South Dakota, North Dakota, Pennsylvania, and Montana all rejected or delayed similar bills. At least 28 states introduced Bitcoin reserve proposals in 2025. Yet most remain stuck in committee or face uncertain futures. The initial wave of enthusiasm following Trump's March executive order has not translated into widespread legislative success.
Professor David Krause from Marquette University has described Bitcoin as the most volatile asset class he has observed. This assessment resonates with legislators who must weigh portfolio diversification against fiduciary responsibility. State reserves typically invest in low-risk assets like short-term bonds. Bitcoin's price swings present a departure from traditional reserve management principles.
The federal government established its own Strategic Bitcoin Reserve through executive order in March 2025. This reserve consists of seized Bitcoin rather than purchased assets. Senator Cynthia Lummis has proposed federal legislation to purchase one million Bitcoin over five years. However, her bill has not yet passed Congress.
Massachusetts now joins a growing list of states where Bitcoin reserve proposals face significant resistance. The hearing's silent reception demonstrates that cryptocurrency adoption at the state level remains contentious. Whether Massachusetts will reconsider the bill or let it expire remains unclear as the legislative session continues.
