New Mexico lawmakers have introduced Senate Bill 275, known as the Strategic Bitcoin Reserve Act, which would allow the state to invest up to 5% of public funds in BTC. Sponsored by Senator Anthony L. Thornton, the bill outlines specific funds eligible for Bitcoin investments, including the land grant permanent fund, the severance tax permanent fund, and the tobacco settlement permanent fund, among others deemed appropriate by the state investment council.
The bill grants authority to the state treasurer and the state investment council to allocate Bitcoin investments from these funds, aiming to diversify the state’s financial holdings. If passed, New Mexico would become one of the first U.S. states to formally integrate Bitcoin into its investment strategy.
🚨 NEW: NEW MEXICO BITCOIN RESERVE BILL
SB57 Allows New Mexico to invest 5% of public funds into Bitcoin! pic.twitter.com/D2ALZkcbPm
— Julian Fahrer (@Julian__Fahrer) February 5, 2025
At the federal level, the White House is also reviewing Bitcoin’s role in government reserves. David Sacks, the administration’s AI and cryptocurrency policy lead, confirmed that evaluating Bitcoin as a strategic reserve asset is a priority for the President’s digital assets working group.
Speaking at a press conference with Republican legislators, Sacks stated, “One of the things that the President instructed us to do was to evaluate the idea for a Bitcoin reserve.” He added that this would be among the first areas of review for the administration’s internal working group.
The review process is still in its early stages, with some key members of the working group awaiting confirmation. “So as soon as we get all that set up—we’re still waiting for some cabinet secretaries who are on the working group to get confirmed,” Sacks explained.
While discussing Bitcoin’s potential as a federal reserve asset, Sacks noted that the concept of a sovereign wealth fund is separate from this initiative. No timeline has been announced for the working group’s findings.
Also Read: Crypto Czar Sacks: Testing Feasibility of Bitcoin Reserve
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