Minnesota state Senator Jeremy Miller has introduced the Minnesota Bitcoin Act, transitioning from skepticism to advocacy for cryptocurrency. He stated that through research and feedback from constituents, he progressed to believing in the potential of Bitcoin and other cryptocurrencies. The proposed bill aims to enable the Minnesota State Board of Investment to integrate Bitcoin into state asset investments, mirroring traditional asset strategies. This follows a national trend, with 23 states having introduced similar Bitcoin reserve legislations. Under Miller's proposal, Minnesota employees could invest in cryptocurrencies for retirement, and residents might pay state taxes using Bitcoin. Investment gains from cryptocurrencies would be exempt from state income taxes, aligning with initiatives seen in states like Louisiana. The growing interest in cryptocurrency investment reflects Bitcoin's impressive growth, having achieved a compound annual growth rate of 102.36% from August 2011 to January 2025, outpacing traditional stock market returns significantly.

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