Utah House Passes Landmark Bill Allowing State to Invest in Bitcoin

• Utah’s House of Representatives passed HB 230, allowing state investment in Bitcoin.
• The vote was 38 in favor, 34 against, with three abstentions.
• The bill has now been moved to the Utah Senate for further consideration.

The Utah House of Representatives has passed HB 230, the Blockchain and Digital Innovation Amendments, which would allow the state to invest in Bitcoin. 

The bill, which will allow the state of Utah to allocate up to 5% of public funds to qualifying digital assets, was approved in a close vote. A total of 38 lawmakers voted in favor, 34 opposed, with three members abstaining.

If signed into law, Utah would become one of the first states in the U.S. to hold Bitcoin as part of its financial portfolio. The legislation aims to position Utah as a frontrunner in blockchain and digital asset innovation while exploring the potential of Bitcoin as a long-term investment.

Utah Economic Committee Believes in Bitcoin 

Notably, the bill was introduced by Utah Representative Jordan Teuscher on January 21. Before reaching the House floor, the Utah House Economic Development Committee reviewed the HB230 bill, which voted 8-1 to advance it on Ja…

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