West Virginia lawmakers have launched Senate Invoice 143, a proposal that may enable the state treasury to allocate as much as 10% of public funds to bitcoin and gold.
What the invoice would enable
SB143 authorizes the West Virginia Treasury to put money into property framed as inflation hedges, explicitly naming bitcoin and gold.
The invoice additionally units a filter for any digital asset: it should keep a median market capitalization above $750 billion.
That threshold successfully limits eligibility to bitcoin.
Market cap threshold narrows eligibility
A social media put up circulating concerning the proposal summarized the construction of the invoice and its constraints.
Bitcoin.com Information wrote:
“NEW: 🇺🇸 West Virginia proposes allocating 10% of state funds to #Bitcoin. 📜 Invoice SB143 empowers the Treasury to put money into $BTC & gold as an inflation hedge, mandating a $750B+ market cap, successfully making Bitcoin the only real digital reserve asset, whereas additionally permitting staking.”
Broader state reserve pattern
If enacted, SB143 would place West Virginia amongst early U.S. states transferring to combine bitcoin into treasury technique.
The proposal’s 10% cap would apply to public funds, whereas the market cap rule is designed to maintain the reserve restricted to bitcoin quite than broader digital property.