Massachusetts Proposes Bitcoin Strategic Reserve
- Republican Senator Peter Durant introduced a bill to create a “Commonwealth Bitcoin Strategic Reserve.”
- The reserve could allocate up to 10% of Massachusetts’ $9 billion stabilization fund to Bitcoin and digital assets.
- Funds for the reserve must be unspent, uncommitted, or unencumbered.
- The proposal allows the state treasury to loan Bitcoin and other assets for additional returns.
- Qualified custodians or exchange-traded products (ETPs) can be used for acquiring digital assets.
The Massachusetts bill aims to diversify financial strategies by potentially allocating up to $900 million from its stabilization fund into Bitcoin and digital assets, without affecting existing obligations.
Source (2.6)https://coingape.com/massachusetts-to-embrace-bitcoin-strategy-with-new-reserve-bill-heres-all/?rand=24432
