South Carolina Considers Bitcoin Reserve in New State Treasury Proposal
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South Carolina is considering a groundbreaking bill that would allow its state treasurer to allocate up to 10% of public funds into digital assets, primarily Bitcoin. The 'Strategic Digital Assets Reserve Act' aims to protect taxpayer funds from inflation and includes provisions for secure custody, regular audits, and voluntary BTC donations. This proposal aligns with similar initiatives in other states like Texas and Arizona.
March 28, 2025 | 2:30 pm
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South Carolina's proposed bill could potentially increase institutional confidence in Bitcoin by demonstrating state-level acceptance of cryptocurrency as a financial reserve asset.
The proposed legislation represents growing institutional interest in Bitcoin, which could drive positive market sentiment and potentially increase Bitcoin's valuation. State-level adoption signals broader acceptance and legitimacy.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90