📈Maryland and Kentucky Propose Bitcoin Reserves + More Trump Tariffs Next Week⁉️📉
Maryland, Kentucky, and Florida introduce bills to allocate public funds to Bitcoin, reflecting a growing state-level crypto adoption trend. Meanwhile, Trump is set to announce reciprocal tariffs next week, escalating trade tensions as Congress debates a broader tax and spending package.
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February 7, 2025
Maryland and Kentucky Propose Bitcoin Reserves as More US States Explore Crypto for Public Funds
Maryland and Kentucky have introduced bills to establish Bitcoin reserves, joining 16 other U.S. states considering crypto investments for public funds. Maryland’s bill explicitly names Bitcoin, while Kentucky’s limits eligible digital assets to those with a market cap of at least $750 billion, effectively making Bitcoin the primary choice. These moves reflect growing bipartisan interest in state-level Bitcoin reserves, aligning with President Trump’s previous campaign promise to explore a federal Bitcoin stockpile.
Florida Bill Proposes Bitcoin Investments for State Funds Amid Growing Crypto Adoption
Florida Senator Joe Gruters has introduced a bill allowing the state’s chief financial officer to invest public funds in Bitcoin and other digital assets. The proposal limits Bitcoin investments to 10% of any account and includes funds from the General Revenue Fund, Budget Stabilization Fund, and other state reserves. Florida’s CFO previously disclosed $800 million in crypto-related investments, with potential expansion if Trump’s presidency influences policy. This move aligns with a broader national trend of state-level Bitcoin reserves.
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Trump to Announce Reciprocal Tariffs as Trade War Escalates
President Donald Trump plans to introduce reciprocal tariffs next week, aiming to match foreign import duties on U.S. exports. The move, which could impact multiple countries, aligns with Trump’s campaign promise and is being considered as a way to offset budget deficits. While auto tariffs remain on the table, recent tariff announcements on Canada and Mexico were delayed after market backlash. The proposal is set to be part of a broader tax and spending package facing hurdles in Congress.