New Mexico is officially trying to get in on the crypto craze, y’all! 🚀 Senate Bill 57 (SB57) just dropped, and it’s all about investing a cool 5% of the state’s cash stash into Bitcoin. Senator Ant Thornton is the brains behind this bold move. 🤑
New Mexico’s Bitcoin Bet
Introducing the “Strategic Bitcoin Reserve Act” – because who doesn’t love a bit of alliteration? This bill is all about creating a crypto piggy bank for the state. The idea? Diversify, baby! 💰
The State Investment Officer will be the lucky duck tasked with managing this shiny new Bitcoin reserve. And don’t worry, they’ll have the eagle eyes of the State Investment Council watching over them. Plus, cold storage for the win – because no one wants their Bitcoin to go all warm and melty. 🧊
Senator Thornton is all about mixing things up, moving away from the same old stocks and bonds. He’s got his eye on the crypto prize and wants New Mexico to be the cool kid on the blockchain block. 🌟
Thornton is also hyped about the economic boost this could bring, luring in crypto companies like bees to a honeypot. And with a side of transparency and public awareness, this bill is shaping up to be the belle of the ball. 🎉
The Bitcoin Bandwagon
New Mexico isn’t the only one jumping on the Bitcoin bandwagon. Indiana is eyeing up Bitcoin ETFs for its retirement funds, thanks to Rep Jake Teshka’s bill. Utah is also in on the action, because who doesn’t want a slice of that sweet, sweet crypto pie? 🥧
About 15 states are toying with Bitcoin Bills, proving that crypto is the new black. It’s like a fashion trend, but with more zeros at the end of your bank balance. 💅
And guess what? The Feds are considering a national digital asset stockpile. Crypto & AI Czar David Sacks dropped that bombshell, but who knows when they’ll actually pull the trigger on BTC buys? 🤷♂️
Bitcoin’s Bounce
With all these states gunning for Bitcoin, the price is bound to get a boost. BTC is currently trading at $96,679 – a modest 1.1% rise. Imagine what’ll happen when public funds start rolling in. 💸
If Utah and co. get their way, BTC’s market cap will skyrocket, and maybe, just maybe, we’ll finally get some stability in this wild and wacky world of crypto. 🌍
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2025-02-06 02:40