Georgia has introduced its second Bitcoin reserve bill, granting the state treasurer unrestricted authority to invest in Bitcoin.
New Bill: Key Aspects
Senate Bill 228 allows the state treasury to invest in Bitcoin without any restrictions while adhering to local policies and regulatory requirements. The bill is introduced by four state senators, including Jason Esteves.
Comparison with the First Bill
Unlike Senate Bill 178, which imposes a 5% investment cap, the new bill removes all limits, adopting a more aggressive stance on Bitcoin adoption. Both bills reflect an increasing interest in leveraging Bitcoin as part of the state’s financial strategy.
Impact on National Level
Interest in cryptocurrency reserves is growing nationwide. According to the Bitcoin Reserve Monitor, 21 U.S. states are considering establishing strategic Bitcoin reserves, with Utah expected to be the first to enact such legislation.
Although no strategic Bitcoin reserve bills have been enacted yet, Georgia's initiatives might encourage other states to follow their lead in transforming their financial strategies.
