Massachusetts Bitcoin Reserve Bill: Tepid Reception and Some Awkward Silence

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Update (Oct. 9 at 7:15 pm UTC): And just to keep you on your toes, we’ve updated this article to include some extra thoughts from Peter Durant. How thrilling.

So, the drama unfolded on Tuesday when a bill designed to create a Bitcoin strategic reserve for Massachusetts was met with… well, let’s call it a lukewarm reception at best. This was the bill’s first legislative hearing in a whole eight months, and I think we can all agree that it could’ve used a bit more excitement.

In front of the Massachusetts legislature’s Joint Committee on Revenue, Senator Peter Durant-who, by the way, is a Republican (yes, yes, I see you all rolling your eyes)-gave a passionate performance on the finer points of his bill, “An Act Relative to a Bitcoin Strategic Reserve.” Oh, how riveting.

Among the glittering details, he suggested that the state treasury might invest up to 10% of the Commonwealth Stabilization Fund in crypto-because, obviously, that’s how we all expect our state funds to be managed-oh, and any Bitcoin (BTC) or digital assets seized by authorities would be neatly tucked away in this reserve. How very… innovative.

“This creates a prudent diversification tool, ensuring full transparency, oversight, and risk management without mandating any action,” Durant quipped, in what can only be described as an understatement of the century. So, it’s essentially a financial safety net, if by “safety” you mean “cryptocurrency”-the world’s most volatile asset.

Then, of course, came the highly anticipated moment when the committee was allowed to ask questions. And, oh, the silence. Not a single question. Not a peep. Is this what we call legislative engagement? Or just the sound of everyone Googling “What is Bitcoin again?”

It’s tough to predict whether the bill has any real chance of passing, given that Democrats control pretty much everything in Massachusetts. And let’s not forget-Durant is a Republican. So, one can only imagine the *enthusiastic* bipartisan support he’s getting for this gem of an idea.

“We’ve been having great conversations with our colleagues about the possibility of bringing Bitcoin to Massachusetts,” Durant told CryptoMoon-because nothing says ‘great conversation’ like hours of silence. He also mentioned that they were “working hard to move this forward.” At this rate, “working hard” might just mean waiting for someone to care enough to ask a question.

According to the great Peter Durant, the committee now has 60 days to advance the bill, which means we’ll likely hear something by early December. So, hold your breath, everyone-this is going to be thrilling.

Alongside Durant, the committee also heard from Dennis Porter, CEO of the Bitcoin advocacy group Satoshi Action Fund, who, naturally, expressed that no state was more “perfectly suited” than Massachusetts to lead this charge. After all, this is a state that pioneered mutual funds! Why not throw Bitcoin into the mix?

Porter, ever the optimist, also noted the bipartisan nature of the movement. Oh, and he waxed poetic about other states like Texas and Arizona, who’ve already passed similar bills. Massachusetts, however, is just taking its sweet time, probably waiting for some ~real~ enthusiasm to stir from the legislative crowd.

Other US States are More Enthusiastic About Crypto Reserves

While Durant’s bill was merely a twinkle in Massachusetts’ eye, several other states have actually moved forward with their crypto reserve plans. Texas, Arizona, and New Hampshire? Oh, they’re already on it. Meanwhile, states like Wyoming, South Dakota, North Dakota, Pennsylvania, and Montana are stuck in the “no thanks” camp. Maybe they’re too busy trying to understand how a blockchain works?

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2025-10-09 22:32