Georgia Senator Introduces Bill to Invest State Funds in Bitcoin

Georgia State Senator Greg Dolezal has introduced Senate Bill 178, which aims to permit the state treasurer to invest in Bitcoin. The bill, co-sponsored by Senators Brandon Beach and Clint Dixon, has been added to the Senate Hopper for consideration.

State Investment in Digital Assets on the Rise

If passed, this legislation would authorize Georgia’s state treasurer to include Bitcoin in the state’s investment portfolio. This move reflects a growing interest among U.S. states in exploring digital assets as part of their financial strategies.

As of now, Senate Bill 178 awaits further discussion and approval within Georgia’s legislative process. Its progress will be closely watched by those interested in the evolving relationship between government finance and digital currencies.

“The increasing number of U.S. state proposals to allocate reserves to Bitcoin could generate $23 billion in buying pressure, with potential pension fund investments further driving demand.” – Matthew Sigel of VanEck

Georgia Joins the Bitcoin Space Race

Georgia joins 20 other U.S. states that are currently considering a cryptocurrency strategic reserve and are at various stages of legislation. Some notable developments include:

  • Utah: The Bitcoin Reserve Bill received approval from the House Economic Development Committee on Jan. 28, 2025, and is now awaiting a Senate vote. If passed, Utah could become the first state to implement a Bitcoin reserve.
  • Missouri, Arizona, Oklahoma, and Kentucky: These states are also actively working on similar initiatives.
  • Alabama, Florida, Massachusetts, New Hampshire, North Dakota, Ohio, Pennsylvania, Texas, Kansas, and Wyoming: These states are also considering measures to invest in digital assets.

For more news on the cryptocurrency space and government finance, stay updated with Global Crypto News.

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