Alabama moves to invest state funds in Bitcoin with new bills

Alabama legislators have introduced legislation to allow the State to invest in public funds in Bitcoin.

The last proposal, the Senate Bill 283, was laid This week by the April Senator weave Companion of bill 482which was introduced in March.

The legislation would allow the State to allocate up to 10% of its public funds to digital assets, but only those with a market capitalization exceeding $ 750 billion.

“Investment in the digital assets of one of the funds described in this section should not exceed, on the whole, 10% of the balance of the fund at the time of investment,” said the bill.

Currently, Bitcoin (BTC) is the only cryptocurrency that reaches this threshold. The bills also specify that these assets must be held directly by the state treasurer, a qualified depositary or through products negotiated on the stock market.

By presenting identical bills in the two legislative chambers, Alabama legislators seek the legislative process.

American state bitcoin proposals

Several other American states explore legislation To allocate public funds to Bitcoin as part of their financial reserves. Alabama is the last to introduce bills allowing 10% of public funds to invest in Bitcoin, following similar efforts in other states.

Earlier this year, Texas legislators proposalselegant The creation of a state bitcoin reserve, with the idea of ​​holding Bitcoin as a strategic asset. Meanwhile, states and Wyoming have adopted legislation recognizing Bitcoin as legal property and work on policies To integrate digital assets into their financial systems.

Arizona and Missouri have has also seen legislative efforts Position Bitcoin as part of their state reserves, but none has yet been promulgated. These efforts correspond to the broader trends in financial policy, where states are increasingly considering Bitcoin alongside traditional assets.