A recent bill proposed by State Senator Peter Durant aimed at establishing a Bitcoin reserve for Massachusetts garnered minimal interest during a legislative hearing. Despite his detailed presentation on the plan—allowing up to 10% of the Commonwealth Stabilization Fund to be allocated for crypto investments—Durant faced no questions from the legislative committee.

Durant stated, “This creates a prudent diversification tool, ensuring full transparency, oversight, and risk management without mandating any action.” However, the bill’s future appears uncertain, as it must gain traction amid a Democrat-dominated legislature.

Durant has expressed optimism about engaging further with lawmakers and emphasized the importance of educational efforts surrounding Bitcoin and digital assets.

In addition to Durant, Dennis Porter, CEO of the Bitcoin advocacy organization Satoshi Action Fund, also provided testimony, helping to articulate the appeal of establishing a Bitcoin reserve in Massachusetts, highlighting the state’s financial legacy and innovation potential.

Other states have begun to adopt similar measures in response to federal movements toward Bitcoin reserves, with Texas, Arizona, and New Hampshire already passing relevant legislation. In contrast, other states are delaying or rejecting similar initiatives, indicating a varied approach across the nation.