If enacted, the bill will allow the state treasurer to invest public funds in certain digital assets, with an effective date set for May 7, 2025. The bill aims to establish a framework for the state to manage its investments in Bitcoin and potentially other cryptocurrencies.
Are they going to buy memecoins?
I think it's unlikely. If they buy alts, it would probably be established networks with perceived utility—ETH, SOL, LINK, or perhaps XRP. I can't quite see their reserve strategies stooping to memecoin level. Granted, though, there have been some ridiculous surprises lately.
Considering what they do with tax money, don't see it (memecoins) as something difficult to happen. For them our money is to be spent anyway, just spent.
🇺🇸 The bills are moving!