1. United States
2. Mass.
3. Letter

I am a resident of Mansfield, MA and am writing to express my enthusiastic support for Senate Bill S1967, “An Act relative to a bitcoin strategic reserve,” sponsored by Senator Peter J. Durant, and House Bill H3279, “An Act allowing for fiscal resilience through strategic investment in stable digital financial assets,” sponsored by Representative Christopher J. Worrell. These innovative pieces of legislation offer significant economic advantages for Massachusetts residents, and I urge you to champion their passage. S1967 proposes establishing a Commonwealth Bitcoin Strategic Reserve, allowing the State Treasurer to invest up to 10% of the Commonwealth Stabilization Fund—potentially $900 million based on its $9 billion value—into Bitcoin or other digital assets. This could diversify our state’s financial portfolio, protecting against inflation and generating returns through strategic lending, potentially freeing up funds for critical services like education, healthcare, and infrastructure. The bill’s secure custody requirements ensure responsible management of these investments. Similarly, H3279 authorizes the State Treasurer and public pension funds to invest in Bitcoin and stable digital financial assets as a hedge against inflation, enhancing the economic security of the Commonwealth. It imposes a 5% excise tax on digital currency revenues, with proceeds deposited into the General Fund for appropriation, potentially supporting public programs. By allowing investments from funds like the General Fund and State Retiree Benefits Trust Fund (up to 10% of each), H3279 could strengthen retirement security and public finances, benefiting residents through a more resilient economy. The bill also enables state retirement funds to invest in regulated exchange-traded products, further diversifying revenue streams. Together, these bills position Massachusetts as a leader in financial innovation, attracting tech industries and jobs while safeguarding public funds against economic volatility. Passing S1967 and H3279 would demonstrate a commitment to modernizing our state’s financial strategy, directly benefiting all residents. Please support these important bills. Thank you for your dedication to serving our community.