West Virginia's Bitcoin strategic reserve bill aims to enhance the state's sovereignty against the federal government and potential central bank digital currencies (CBDCs). State Senator Chris Rose emphasized that many citizens prefer decentralized currency for the freedom it offers. The proposal seeks to allow the state treasury to invest up to 10% of public funds in assets such as precious metals, stablecoins, and digital assets with a market capitalization of at least $750 million. Currently, only Bitcoin meets this criterion. Rose noted that this investment strategy is designed to avoid volatile assets like memecoins. He expressed confidence that West Virginia's governor and state treasurer would support the bill. However, some lawmakers and financial experts have raised concerns about the risks associated with Bitcoin's volatility. Despite similar bills being proposed in various states, not all have been successful. The funds designated for investment will come from longer-term assets like pension and severance tax funds, distinguishing them from day-to-day operational funds.

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