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The Bitcoin Act is making headlines in Minnesota as state Senator Jeremy Miller pushes for its adoption. Miller’s bill would allow the state to invest in BTC, accept it for taxes, and add crypto to retirement plans. Read on to better understand this information.
With the introduction of the Bitcoin Act, Miller transitioned from skepticism to belief in innovation. Research and feedback showed him Bitcoin’s role in Minnesota’s economic growth.
What’s in the Bitcoin Act?
Miller’s Bitcoin Act introduces new measures for Minnesota residents.
- State Investments: Minnesota residents can add Bitcoin to their state-held reserve assets.
- Retirement Accounts: State employees would have Bitcoin as an available option for their retirement savings program.
- Tax Payments: People who live in the state can choose Bitcoin to pay the required taxes and fees.
JUST IN: Minnesota State Senator Justin Miller has introduced the Minnesota Bitcoin Act (SF2661).Senator Miller stated, “Global digital currencies are here to stay, and their mainstream adoption is inevitable.” pic.twitter.com/NoEsc8gTMY
— Cointelegraph (@Cointelegraph) March 18, 2025
Colorado and Utah now permit Bitcoin payments to fulfill tax obligations. Utah also extends Bitcoin usage for other official state services. Louisiana has also approved Bitcoin payments for state services. Minnesota’s adoption of this would boost Bitcoin’s role in daily finance.
Minnesota Joins the Bitcoin Movement
Minnesota isn’t alone in this. Across the U.S., 23 states have introduced bills to establish Bitcoin reserves, with 39 different proposals in circulation. The momentum follows Senator Cynthia Lummis’ Strategic Bitcoin Reserve Act. The proposal suggests the federal government buy 200,000 BTC per year for five years, totaling 1 million BTC.
A total of 33 states have introduced bills on Bitcoin and digital assets, with 59 measures in play across the country.
So far, 31 Sovereign Bitcoin Resolutions (SBRs) have been introduced in 24 states, and 26 are actively moving forward.… https://t.co/PlYQOIFO6V pic.twitter.com/1qX3IgdsgZ
— Mario Nawfal (@MarioNawfal) February 24, 2025
Lummis recently introduced an updated Bitcoin Act to expand federal Bitcoin holdings further. State and federal authorities are progressively expanding the use of Bitcoin as a financial tool.
Why Bitcoin?
Miller’s proposal aligns with Bitcoin’s strong performance over time. According to Curvo data, Bitcoin’s compound annual growth rate (CAGR) has been 102.36% since August 2011, far outpacing the S&P 500’s 14.83%. The expansive value that Bitcoin provides is the main reason why more legislators view it as a strong investment for the future.
JUST IN:
pic.twitter.com/RbaCGlA7SU
— Swan (@Swan) March 18, 2025
Conclusion
The Bitcoin Act of Minnesota represents further growth in mainstream Bitcoin integration. If enacted, it would turn Minnesota into a leading state with crypto-centric policies in the United States. The regulatory challenges continue, but Bitcoin maintains a growing influence on government finances. No matter how Minnesota enacts these policies, its success will be clear, and Bitcoin supporters will continue to grow.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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