Roswell Becomes the First U.S. City to Create a Bitcoin Reserve

Roswell, a city in New Mexico, has become the first U.S. city to create a Bitcoin reserve, reports BlockChain.News. The city's strategic reserve was launched on April 29.

The initiative was confirmed by Acting Mayor Juliana Halvorson and Bitcoin professional Guy Malone. Using his X page, Malone shared an official document from Roswell city, confirming the receipt of its first Bitcoin donation.

The donation was 0.0305 BTC or 3,050,323 satoshis, which was worth about $2,906 at the time it was received. It was intended to help establish the BTC reserve, which will be managed by the city government.

The anonymous donation was sent to Roswell on January 3, 2025, and it was officially transferred into the city's custody on April 29, 2025, via the Roswell Strategic Reserve blockchain address.

The fund will be held for a minimum of ten years to grow the BTC donations and sponsorships. After this period, the donations can be used to offset water bills for senior citizens in the city.

Once the fund exceeds $1 million, it can be accessed as a "liquid emergency fund," with up to 21% allowed for use every five years. Before any funds are allocated for disaster relief or other purposes, a unanimous vote by the city council is required.

The announcement also stated that cryptocurrency donations to the BTC reserve are welcomed. Those donating over $250 can request a receipt by sending their transaction ID and U.S. mailing address to Guy Malone's email address. The reserve will also accept donations in other forms, including USD and property.

The state of New Hampshire is also considering creating a Bitcoin reserve. A bill regarding this is expected to be brought before the senate for a vote.

Earlier this year, a bill to create a state-level Bitcoin reserve was passed by the house of representatives. The bill will now be passed to the senate, where it is expected to be voted on in the fall of 2025.

The bill, which was sponsored by Representative Mark Porter, would create a reserve to be funded by BTC donations and sponsorships. It would be managed by the state treasurer, who would be required to report on the reserve's activity annually to the legislature.

If the bill is passed by the senate and signed by the governor, New Hampshire would become the first state in the U.S. to have a Bitcoin reserve.

The post Roswell becomes first U.S. city to launch Bitcoin reserve appeared first on Chainwire.

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output: A city in New Mexico has become the first in the U.S. to launch a Bitcoin reserve.

The initiative was confirmed by Acting Mayor Juliana Halvorson and Bitcoin professional Guy Malone. Using his X page, Malone shared an official document from Roswell city, confirming the receipt of its first Bitcoin donation.

The donation was 0.0303 BTC or 3,050,323 satoshis, which was worth about $2,906 at the time it was received. It was intended to help establish the BTC reserve, which will be managed by the city government.

The anonymous donation was sent to Roswell on January 3, 2025, and it was officially transferred into the city's custody on April 29, 2025, via the Roswell Strategic Reserve blockchain address.

The fund will be held for a minimum of ten years to grow the BTC donations and sponsorships. After this period, the donations can be used to offset water bills for senior citizens in the city.

Once the fund exceeds $1 million, it can be accessed as a “liquid emergency fund,” with up to 21% allowed for use every five years. Before any funds are allocated for disaster relief or other purposes, a unanimous vote by the city council is required.

The announcement also stated that cryptocurrency donations to the BTC reserve are welcomed. Those donating over $250 can request a receipt by sending their transaction ID and U.S. mailing address to Guy Malone's email address. The reserve will also accept donations in other forms, including USD and property.

The state of New Hampshire is also considering creating a Bitcoin reserve. A bill regarding this is expected to be brought before the senate for a vote.

Earlier this year, a bill to create a state-level Bitcoin reserve was passed by the house of representatives. The bill will now be passed to the senate, where it is expected to be voted on in the fall of 2025.

The bill, which was sponsored by Representative Mark Porter, would create a reserve to be funded by BTC donations and sponsorships. It would be managed by the state treasurer, who would be required to report on the reserve's activity annually to the legislature.