South Carolina State Representative Proposes Bill to Invest 10% of State Funds in Bitcoin
Suehyeon Lee
Summary
- Jordan Pace, a South Carolina state representative, has proposed a bill allowing up to 10% of state government assets to be invested in Bitcoin.
- The bill sets a cap allowing the state government to hold up to 1 million BTC.
- This is interpreted as an expansion of Bitcoin investment at the state government level.
A Bitcoin (BTC) reserve bill has emerged in the state of South Carolina, USA.
According to Bitcoin Law on the 28th (local time), Jordan Pace, a South Carolina state representative, has proposed a BTC reserve bill (H4256) that allows up to 10% of state government assets to be invested in Bitcoin.
The bill sets a cap of 1 million BTC on the state government's Bitcoin holdings.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
