New Mexico Senator Proposes Strategic Bitcoin Reserve Bill

According to Odaily, U.S. Senator Ant Thornton has introduced the 'Strategic Bitcoin Reserve Bill' to the New Mexico Senate. The proposal suggests investing 5% of public funds in Bitcoin to establish an alternative treasury for the state. This allocation aims to diversify the state's funds and capitalize on Bitcoin's potential long-term price appreciation. The bill also recommends that the state's investment officer manage the Bitcoin reserve under the oversight of the State Investment Council. Additionally, it emphasizes the importance of using cold storage as a viable method to safeguard the state's Bitcoin holdings.