Utah Bill Proposes 10% State Funds In Bitcoin And Stablecoins
The state of Utah has presented a new bill proposing to allow 10% of state funds to be invested in Bitcoin (BTC) and stablecoins. State Representative Jordan Teuscher presented the bill on Monday, Jan. 20, 2025. An interesting point is that the proposed legislature was introduced on the day of Donald Trump’s inauguration as the 47th President of the United States. Also Read: 5 Currencies That May Take A Major Hit If De-Dollarization Advances The proposed legislature is called the “Blockchain and Digital Innovation Amendments” bill. According to an X post by State Representative Teusher, “ This bill reflects our commitment to embracing cutting-edge technology and preparing for the future of finance, while ensuring fiscal sovereignty. “ If voted into law, the bill could lead to a significant rise in Bitcoin’s (BTC) adoption. Utah is the 11th US state to have a BTC reserve bill. Will Bitcoin Rally? Source: Watcher Guru The proposed bill is a bullish deve...