Massachusetts Proposes Bitcoin Strategic Reserve Bill

In a contemporary improvement, Republican Senator Peter Durant of Worcester County, Massachusetts, has launched laws geared toward establishing a strategic Bitcoin reserve. Notably, the Worcester County resident joined Texas, Pennsylvania and Oklahoma as states contemplating comparable payments. Moreover, Massachusetts is the primary historically Democratic state to think about laws permitting cryptocurrency investments. The proposal proposes utilizing a part of the state’s $9 billion wet day fund to purchase Bitcoin, with a ten% restrict on how a lot will be invested within the cryptocurrency. The invoice emphasizes that Bitcoin can be a small a part of the state’s portfolio, and never a whole divestment.