Roswell, New Mexico Just Made History—First US City to Hoard Bitcoin Like Digital Gold

Move over, Fort Knox—Roswell just bet its municipal treasury on volatile internet money. The New Mexico city council voted unanimously to allocate 5% of its cash reserves into Bitcoin, citing ’long-term strategic positioning’ (and presumably, some alien-level conviction in crypto).

Why this matters: While Wall Street hedgies debate ETFs, local governments are quietly stacking sats. Roswell’s move could pressure other cities to follow—or leave them holding the bag if BTC pulls another -70% nosedive.

The kicker? The reserve will be custodied via a multi-sig wallet... with one key allegedly held by a UFO-shaped hardware device. Just kidding. Probably.

Document Confirming Roswell’s Bitcoin Reserve Establishment Notably, the anonymous sender transferred the funds on January 3, but Roswell received the donation to its public reserve address on April 30, with the stash worth $2,906. Meanwhile, the city’s Bitcoin holdings have increased to $5,125 at press time, as more market enthusiasts have donated to the wallet since then. Following the reserve creation, Roswell, New Mexico, announced that it would accumulate more Bitcoin for the reserve through donations and sponsorships and hold it for at least 10 years. Nonetheless, the city would use the US dollar gains from its stash to fund projects, such as subsidizing water bills for elderly community members. Furthermore, if the funds reach $1 million, Roswell will move the bitcoins to its emergency funds, utilizing 21% of it every five years for disaster relief. However, this proposal is pending approval by the Roswell City Council. Bitcoin Reserve Ploy Gaining Momentum in the US Meanwhile, this development comes on the heels of a similar establishment by the state of Arizona. Two bills to allocate 10% of the state’s public assets to buying Bitcoin gained legislative approval on April 29, with their establishment pending approval from Governor Katie Hobbs. While Arizona is currently leading the race, other states have also made substantial progress. For instance, the Bitcoin Reserve Bill HB 302 in New Hampshire has passed the first round of senatorial approval, gaining considerable momentum. Moreover, other states, such as Kentucky, Utah, and Oklahoma, are also pursuing the creation of a strategic Bitcoin reserve.