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North Dakota lawmakers have introduced a resolution encouraging the inclusion of digital assets and precious metals in the state treasury to combat inflation. Sponsored by six Representatives and two Senators, the proposal aims to diversify the state's financial resources without mandating action. This initiative aligns with similar efforts in New Hampshire, Pennsylvania, Texas, Alabama, and Florida to explore Bitcoin as a strategic reserve.
New Hampshire has introduced a bill to create a strategic reserve of digital assets, allowing up to 10% of public funds, approximately $360 million, to be invested in Bitcoin and US-pegged stablecoins. The legislation mandates secure custody solutions and regulatory approval for exchange-traded products. This move aligns with a growing trend among states to diversify public funds through cryptocurrency, with similar proposals emerging in at least ten other states.
The Texas House of Representatives has introduced a bill to establish a strategic Bitcoin reserve, aiming to hold the asset for at least five years and collect donations, taxes, and fees in Bitcoin to combat inflation. This initiative follows a surge in Bitcoin's value after Donald Trump's political success, with several states exploring similar measures. Meanwhile, a partnership between Tools for Humanity and Modulus Labs aims to enhance the security and scalability of the World network, which has seen significant user adoption despite regulatory challenges.
Alabama State Auditor Andrew Sorrell has proposed establishing a Strategic Bitcoin Reserve (SBR) to diversify the state's portfolio and protect against currency risks, amid rising interest in Bitcoin at both state and federal levels. He advocates for a cautious, two-year dollar-cost-averaging strategy for purchasing Bitcoin, emphasizing its long-term potential, with predictions of it reaching $1 million per coin. This initiative aligns with similar efforts in states like Florida and Pennsylvania, as well as federal plans under President-elect Trump.
Andrew Sorrell
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
north dakota lawmakers propose adding bitcoin to state treasury portfolio
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