Kansas Senator’s Bitcoin ETF Retirement Fund Proposal

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Altcoinbuzz2025/01/24 00:22

By:By Victor -Victor -

Kansas Senator Elaine Bowers has introduced Senate Bill No. 34

This initiative marks a significant pivot towards acknowledging cryptocurrencies as a viable component of retirement portfolios. It potentially sets a precedent for other states to follow.

The proposed bill allows KPERS (Kansas Public Employees Retirement System) to allocate part of their funds into a Bitcoin ETF.

Diversifying Public Investments with Cautious Bitcoin Adoption

This move is not just about embracing new technology. Also, is about diversifying investment options for public employees. The legislation stipulates strict guidelines to ensure that these investments are made with due diligence. This requires KPERS to consult with investment experts and establish risk versus reward policies.

This statement reflects a broader sentiment in the financial sector recognizing Bitcoin’s potential as an asset class. Especially with its recent regulatory endorsements. This includes the approval by the U.S. Securities and Exchange Commission for certain Bitcoin ETFs.

🇺🇸 TODAY: Kansas Senator Bowser introduces bill to invest up to 10% of the public employees retirement fund in #Bitcoin ETFs. pic.twitter.com/78eBkmgyQo

— Cointelegraph (@Cointelegraph) January 23, 2025

The bill’s timing aligns with growing institutional interest in cryptocurrencies. BlackRock’s recent $600 million Bitcoin purchase underscores the growing acceptance of digital assets in institutional portfolios.

More About Bitcoin

MicroStrategy has announced a bold strategy to significantly increase its Bitcoin holdings by proposing to increase its authorized shares from 330 million to 10.33 billion.

MICROSTRATEGY IS PRINTING 10 BILLION SHARES TO BUY MORE BITCOIN

SOURCE: BLOOMBERG pic.twitter.com/xvInzGODzq

— Arkham (@arkham) January 21, 2025

The issuance of these additional shares would provide MicroStrategy with the necessary capital to purchase more Bitcoin, reflecting the company’s belief in Bitcoin’s long-term value growth and its role as a Bitcoin Treasury company

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