Editor's PiCK
"Kentucky, U.S., Proposes Bitcoin Strategic Reserve Bill... Allows Up to 10% Bitcoin Investment"
Summary
- Kentucky has proposed a Bitcoin strategic reserve bill, allowing up to 10% of state government funds to be invested in the asset.
- If the bill is introduced, Bitcoin will be the only digital asset exceeding a market capitalization of $750 billion to be a target for investment.
- Utah is also rapidly advancing a similar bill, indicating growing interest in Bitcoin strategic reserves within the United States.
The state of Kentucky in the United States has proposed a bill for strategic reserves of Bitcoin (BTC).
On the 7th, the cryptocurrency-focused media outlet U.Today reported, "Kentucky has become the 16th U.S. state to introduce a Bitcoin reserve bill," adding, "The bill allows up to 10% of state government funds to be invested in digital assets with a market capitalization exceeding $750 billion (approximately 1,085 trillion KRW)." Currently, Bitcoin is the only cryptocurrency that meets this condition.
The media also noted, "Missouri and Iowa submitted similar bills the previous day." Additionally, Utah's Bitcoin reserve bill (HB230) recently passed the House and is moving to the Senate, progressing the fastest.
On this day, 45% of bets on the decentralized prediction platform Polymarket are on the expectation that the United States will strategically reserve Bitcoin this year.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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