Odaily News U.S. Senator Ant Thornton submitted the "Strategic Bitcoin Reserve Act" to the New Mexico Senate, proposing to invest 5% of public funds in Bitcoin, aiming to establish an alternative treasury for the state. The proposed 5% allocation will diversify the state's funds and enable it to benefit from the long-term price appreciation of Bitcoin.
The bill also proposes that the state investment officer manage the bitcoin reserve and operate under the supervision of the state investment committee. The bill also clarifies the need for cold storage as a viable means of protecting the state’s bitcoin.