Which U.S. state will be the first to successfully establish a state-owned Bitcoin reserve? The outcome will be determined by official announcements or enactments from the respective state governments, verified through the Federal Reserve’s press releases.

If no state within the outcome options meets the aforementioned resolution criteria by the closing date - March 31, 2025 at 17:00 UTC - the market will resolve as “None.” Confiscation of Bitcoin by the U.S. government or any state government does not count as holding Bitcoin reserves—it must be added to a reserve to be considered as such.