🚨 BREAKING: Maryland Goes Crypto Crazy! 🚨
It seems the good people of Maryland have finally gone barmy for Bitcoin! 🤪 In a bid to join the 21st century, they’ve introduced the “Strategic Bitcoin Reserve Act of Maryland”, a fancy name for a legislative proposal to establish a Bitcoin reserve fund for the state. Because, you know, who needs actual money when you can have made-up internet money? 🤑
This hare-brained scheme is the brainchild of Delegate Caylin Young, who clearly has a few too many spare brain cells. The bill aims to allow state funds derived from gambling violations to be allocated into Bitcoin (BTC), because what could possibly go wrong with that? 🤷♂️
Maryland Takes a Leap of Faith into the Crypto Abyss
Maryland is just the latest in a long line of U.S. states to jump on the digital asset bandwagon, because who needs a stable economy when you can have a wild cryptocurrency ride? 🎢 The bill seeks to create a Bitcoin reserve fund that would serve as a financial asset for the state, or in other words, a fancy way of saying “we’re going to gamble with taxpayer money”. 🤦♂️
If passed, the legislation would permit the state treasurer to invest funds obtained from enforcing gambling violations into Bitcoin, because what’s a little irony between friends? 😂 The proposal aligns with similar efforts across the U.S., where states are evaluating Bitcoin as a potential store of value, or in other words, a way to lose all your money in a hurry. 💸
In a recent CoinGape report, Donald Trump’s Crypto Czar, David Sacks, stated that his team is evaluating the creation of a Strategic Bitcoin reserve, because who needs a social security fund when you can have a Bitcoin hoard? 🤣 Sacks confirmed that this is one of their top priorities as they assess BTC reserve feasibility, or in other words, they’re trying to figure out how to make a quick buck off the gullible public. 🤑
The Crypto Madness Spreads
At least 22 states are engaged in discussions, legislative proposals, or actual investments in digital assets, because who needs a stable financial system when you can have a cryptocurrency casino? 🎲 Michigan and Wisconsin have already allocated portions of their retirement funds into Bitcoin exchange-traded funds (ETFs), because what could possibly go wrong with that? 🤦♂️
New Mexico introduced Senate Bill 57 (SB57) to establish a Strategic Bitcoin Reserve, because who needs a state budget when you can have a Bitcoin stash? 🤑 The bill, proposed by Senator Ant Thornton, seeks to allocate 5% of public funds to Bitcoin as an alternative investment, or in other words, a way to lose 5% of the state’s money in a hurry. 💸
Utah Jumps on the Crypto Bandwagon
Utah’s legislative efforts toward digital asset investments have reached a new stage, or in other words, they’ve finally gone completely mad. 🤪 The state’s House of Representatives recently passed a bill allowing the state treasurer to invest in select cryptocurrencies, because who needs a stable financial system when you can have a cryptocurrency roulette wheel? 🎲
If enacted, the law would permit investments in stablecoins and cryptocurrencies with a market capitalization exceeding $500 billion, or in other words, a way to lose all your money in a hurry. 💸 As of now, Bitcoin is the only digital asset that meets this threshold, but don’t worry, I’m sure it’ll be a stable and secure investment… 🙄
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2025-02-08 03:16