In the US, North Dakota is considering the establishment of a Bitcoin reserve, joining several other states looking into cryptocurrency investments.
North Dakota's Initiative
The state of North Dakota is exploring a proposal to establish a Bitcoin reserve as part of investment diversification. The official announcement reveals that the state government is considering investing part of its budget funds in digital assets and precious metals to fight inflation.
Examples from Other US States
North Dakota follows the footsteps of Texas and Ohio, which have also shown interest in establishing Bitcoin reserves. For instance, Texas has already introduced a bill for a strategic Bitcoin reserve.
Reasons for Interest in Bitcoin
Bitcoin's increasing value and its recognition as a tool against inflation spur interest in cryptocurrencies among governmental bodies.
North Dakota, along with other US states, sees the potential in Bitcoin to stabilize financial reserves and mitigate inflationary risks.
