New Mexico Senator Proposes Bill to Allocate 5% of Public Funds to Invest in Bitcoin

According to Foresight News, New Mexico Senator Ant Thornton has submitted the Bitcoin Strategic Reserve Act to the Senate, which plans to allow the state Treasury Secretary and State Investment Committee to use public funds to invest in Bitcoin. The proposal content shows that the investable sources of funds include the Land Grant Permanent Fund, Mineral Tax Permanent Fund, Tobacco Settlement Permanent Fund, and other state funds deemed appropriate by the State Investment Commission. The investment amount of each fund in Bitcoin shall not exceed 5% of the total amount of the fund.