The post West Virginia’s Bitcoin Bill Proposes 10% State Fund Investment Amid Growing Interest in Decentralized Currency appeared on BitcoinEthereumNews.com.

West Virginia is gearing up for a groundbreaking legislative move that could allow the state to invest in Bitcoin, aiming to enhance financial sovereignty. This initiative reflects a growing trend among U.S. states to explore cryptocurrency investments as a hedge against federal monetary policies. Senator Chris Rose emphasized that the bill seeks to safeguard state interests against a possible central bank digital currency (CBDC), stating, “People want decentralized currency. They want freedom.” West Virginia proposes a Bitcoin investment bill to enhance state financial sovereignty, permitting up to 10% of funds in BTC, stablecoins, and precious metals. New Legislation Aims to Revolutionize State Investments in Bitcoin The proposed Bitcoin bill in West Virginia represents a pivotal shift in how state governments perceive digital currencies. By allowing the state treasurer to allocate up to 10% of public funds in Bitcoin and stablecoins, the legislation aims to provide West Virginia with greater financial independence from federal constraints. This move, spearheaded by State Senator Chris Rose, underscores a growing recognition of Bitcoin as not merely a speculative asset but a legitimate financial tool that could bolster the state’s economy. Addressing Concerns: Financial Education and Risk Management Senator Rose has acknowledged that a primary hurdle in advancing the bill is the prevailing fear associated with cryptocurrencies. He noted, “Just like any other state, we have people who understand it. We also have people that don’t understand it, and people are always afraid of what they don’t know.” This concern about cryptocurrency’s volatility and potential destabilizing effects on state finances highlights the need for comprehensive financial education initiatives aimed at lawmakers and constituents alike. Explaining Bitcoin’s fundamentals and its potential as an economic shield against inflation could foster a more favorable outlook among skeptics. Demonstrating Confidence: Support from State Officials According to Senator Rose, support for…

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Filed under: News - @ April 3, 2025 12:24 am