In a most curious turn of events, the fair state of Kentucky has taken it upon itself to become the sixteenth of these United States to propose a bill concerning the illustrious Bitcoin reserve. One cannot help but marvel at the audacity of such a venture! 🤔
This bill, if it were to be embraced by the powers that be, would permit the investment of a most generous ten percent of state funds into digital assets, provided that these assets boast a market capitalization exceeding the rather impressive sum of $750 billion. One might wonder, however, if such a sum is not merely a figment of the imagination! 💰
While the reserve is not exclusively tethered to Bitcoin, it is rather amusing to note that this particular cryptocurrency is the sole digital asset that meets the aforementioned criteria. How delightfully ironic! 😂
On the same day, the states of Missouri and Iowa, in a display of remarkable synchrony, introduced similar bills, as if they were all part of a grand performance. 🎭
Meanwhile, in the land of Utah, the Bitcoin reserve law, known as HB230, has gallantly passed through the House and is now making its way to the Senate, leading the charge in this peculiar race. One can only hope it does not trip over its own ambitions! 🏃♂️
It is worth noting that this bill marks the first strategic Bitcoin reserve bill (SBR) to have successfully passed a chamber vote, a feat that is indeed worthy of a toast! 🥂
Alas, not a single SBR bill has yet been enacted into law, leaving one to ponder the efficacy of such legislative endeavors. In a rather disheartening twist, bills in North Dakota and Wyoming have met with failure, with Wyoming’s HB201 stumbling at the committee stage and North Dakota’s HB1184 being cast aside in the House. Such is the fickle nature of politics! 😅
As for the prospects of a national Bitcoin reserve bill emerging in the year of our Lord 2025, the odds have dwindled to a mere 45% on Polymarket. One can only hope that the winds of fortune will shift in favor of those who dare to dream! 🌬️
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2025-02-07 09:56