The Senator from New Mexico, USA, submits a Bitcoin strategic reserve bill, proposing to allocate 5% of public funds
U.S. Senator Ant Thornton has submitted the "Strategic Bitcoin Reserve Act" to the New Mexico State Senate, proposing that 5% of public funds be invested in Bitcoin with the aim of establishing an alternative treasury for the state. The proposed 5% allocation would diversify the state's funds and allow it to benefit from long-term price appreciation of Bitcoin. The bill also proposes that this Bitcoin reserve be managed by a state investment officer under the supervision of a state investment committee. The bill further clarifies the necessity of cold storage as a viable means to protect the state's Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Wallet to Pioneer Support for Ethereum EIP-7702 Proposal, Advancing Wallet Intelligence
Ethereum Spot ETF Sees Net Outflow for Three Consecutive Days, with $16.11 Million on May 8
Registration Open for Bitget's Second VIP Trading Competition with a Total Prize Pool of 100,000 USDT
Metaplanet Issues $21.25 Million Zero-Interest Bonds to Increase Bitcoin Holdings
Trending news
MoreCrypto prices
More








