New Mexico Proposes 5% Public Fund Investment in Bitcoin
- New Mexico Senate Bill 57 (SB57) proposes investing 5% of public funds in Bitcoin.
- The bill, introduced by Senator Ant Thornton, aims to create a strategic Bitcoin reserve.
- The State Investment Officer will manage the reserve under the State Investment Council’s oversight.
- Cold storage is recommended for safeguarding the state’s Bitcoin assets.
- The initiative seeks to diversify investments and attract cryptocurrency companies to New Mexico.
Senate Bill 57, introduced by Senator Ant Thornton, proposes that New Mexico invest 5% of its public funds in Bitcoin to diversify state investments and boost local economic growth through cryptocurrency innovation.
Source (2.6)https://coingape.com/new-mexico-proposes-to-invest-5-of-public-funds-in-bitcoin-reserve/?rand=24432
