New Mexico joins the list of U.S. states exploring Bitcoin Reserve – Details
New Mexico has joined the BTC reserve race, which Arizona has a decent early lead while North Dakota and Wyoming bills failed.
- New Mexico is now part of the 15 U.S. states that have submitted BTC Reserve bills.
- Polymarket odds of a national BTC Reserve have dropped below 50%.
New Mexico is the latest U.S. state to join the Bitcoin[BTC] Reserve movement, which has picked pace since Donald Trump won the presidential election.
According to the report, the New Mexico (NM) Reserve bill would allow the state to deploy 5% of public funds to buy BTC.
New Mexico’s Senator Anthony Thornton officially introduced Senate Bill (275) on the 4th of February. It is pending review by the Senate Taxation, Business, and Transportation Committee (STBTC).
U.S. Bitcoin Reserve race
Other states, like Wyoming, led by Senator Cynthia Lummis, have also made progress with BTC Reserve plans. If approved, the state would invest about $300M in BTC to diversify its reserve investments.
According to Bitcoin Laws, a tracker for BTC Reserve legislation, 15 states have seen some progress in BTC Reserve bills.
So far, most bills are either at an introduction or the committee’s first reading stages. None have been enacted yet.
However, North Dakota and Wyoming bills failed to proceed. On the other hand, Arizona maintained a lead as its bill proceeded to the general floor for a vote.
On the national level, Trump’s crypto czar David Sacks confirmed that President Trump instructed him, alongside the relevant working group, to ‘evaluate the idea of BTC Reserve.’
While there’s no exact timeline for the national BTC Reserve, the president told the working group to submit a framework within 180 days to set up a ‘national digital stockpile.’
At press time, Polymarket odds for the national BTC Reserve in 2025 were below 50%, suggesting that BTC hasn’t fully priced in the possibility of a positive outcome.
