Another US State Announces Plans to Create a Strategic Reserve of Bitcoin and Altcoins

In the US state of Kansas, a strategic reserve initiative directly targeting Bitcoin has emerged. A new bill submitted to the State Senate aims to have Kansas officially classify digital assets under a reserve framework.

The “Bitcoin and Digital Assets Reserve Fund” bill, introduced to the Senate, proposes that unclaimed digital assets and the income derived from them be collected in a special fund under the state treasury. According to the proposal, the fund would consist primarily of airdrops, staking rewards, and interest-like returns from digital assets, including Bitcoin. The fund would be managed by the Kansas State Treasurer.

Another notable element of the bill concerns the rules regarding the use of digital asset revenues. According to these rules, expenditures from the Bitcoin and digital asset reserve fund can only be made within the budget approved by the legislature. Furthermore, it is stipulated that 10% of the amount earned from each digital asset investment must be transferred to the state’s general fund, but Bitcoin cannot be directly deposited into the general fund.

The bill also defines the concept of “airdrop” in detail. According to this definition, an airdrop is considered a reward of digital assets distributed to users, miners, validators, or existing token holders who contribute to the functioning of blockchain networks, under predetermined and non-discriminatory conditions. Transactions involving cash or asset exchanges exceeding the nominal value are excluded from the scope of airdrops.

*This is not investment advice.