West Virginia Senate Proposes Bitcoin Investment Bill to Hedge Against Inflation Risks

On February 15th, West Virginia Senator Chris Rose introduced groundbreaking legislation aimed at modernizing the state’s investment strategy. The proposed bill allows the state treasury to allocate up to 10% of its funds into Bitcoin or precious metals, serving as a tactical measure against inflation risks. This initiative underscores a growing recognition of digital assets in traditional investment portfolios. Notably, the stipulation highlights that only assets with a market capitalization exceeding $750 billion qualify for investment, thereby currently positioning Bitcoin as the sole contender meeting this criterion. Moreover, the legislation permits the state to hold these digital assets on-chain or through Exchange-Traded Funds (ETFs), showcasing a flexible approach towards asset management in an evolving financial landscape.