West Virginia senator proposes a bill for the state to invest in cryptocurrency and gold

The state treasury would be allowed to invest up to 10% of its total assets in digital assets

17.02.2025 - 10:45

2 min

What’s new? West Virginia State Senator Chris Rose has introduced the Inflation Protection Act of 2025, which would allow the state treasury to allocate a portion of its funds to digital assets and precious metals. Filed on February 14, the bill sets specific criteria for investment in digital assets, limiting them to cryptocurrencies with a market capitalization exceeding $750 billion. Right now, bitcoin is the only digital asset that meets this threshold. Stablecoins are also included in the proposal.

What else is known? Under the provisions of the bill, the state treasury would be allowed to invest up to 10% of its total assets in digital assets and precious metals. Assets could be held either on blockchain or through exchange-traded funds (ETFs)

Senator Rose’s proposal was part of a growing trend among US states considering bitcoin and digital asset reserves as a hedge against inflation and government deficit spending. On January 23, US President Donald Trump commissioned a working group to study the possibility of creating a federal digital asset reserve, which sparked a wave of similar initiatives at the state level.

On February 6, the Utah House of Representatives passed a bill allowing the state treasury to invest in bitcoin, certain altcoins, and stablecoins. The bill is currently pending in the Utah Senate. Michigan was another state to propose a strategic digital asset reserve, with Representatives Brian Posthumus and Ron Robinson introducing the bill on February 13.

Last week, Texas lawmakers again introduced a bill aimed at creating a state bitcoin reserve, this time expanding its scope to include other digital assets that meet certain criteria.

Texas filed the request after Florida Republican Senator Joe Gruters introduced a bill proposing that the state allocate some of its funds to bitcoins and other digital assets as a hedge against inflation.

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