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.