New Mexico could buy up to $2 billion in Bitcoin if new bill passes

Odaily News reports that if a new bill is passed, New Mexico could potentially purchase up to $2 billion worth of . Previously, U.S. Senator Ant Thornton submitted the "Strategic Reserve Act" to the New Mexico State Senate, proposing to allocate 5% of public funds to invest in , with the aim of establishing an alternative treasury for the state. The proposed 5% allocation would diversify the state's funds and allow it to benefit from the long-term price appreciation of . The bill also proposes that the reserve be managed by the state investment officer and operated under the supervision of the state investment commission. The bill also emphasizes the necessity of cold storage as a viable means to protect the state's .