UTAH’S BITCOIN RESERVE BILL PASSES SENATE – ONLY ONE VOTE LEFT
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✍️ Utah takes a step closer to establishing Bitcoin as a state-level strategic reserve asset, with House Bill 230 passing the Senate Revenue and Taxation Committee.
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👉 HB230 authorizes the Utah state treasurer to invest up to 5% of certain public reserve funds in digital assets
👉 Digital assets must maintain a minimum average market capitalization of $500 billion over the preceding 12 months
👉 Bitcoin is the only cryptocurrency that meets this threshold
👉 The bill also authorizes the treasurer to engage in crypto staking
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#GovernorSpencerCox #Rep.JordanTeuscher #Utah #technology
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