New bill would let South Carolina invest in up to 1 million Bitcoin

From thestreet.com

South Carolina has introduced House Bill 4256, allowing the state's treasury to hold Bitcoin and other digital assets. It is the most recent state to adopt the Strategic Digital Assets Reserve Act. The legislation allows the state treasurer to use up to 10% of some unspent state funds, such as the General Fund and Budget Stabilization Reserve, for digital asset investments. These reserves would be limited to 1 million Bitcoin. "The creation of the Digital Assets Reserve will allow the State to own digital assets, including Bitcoin, as a financial asset," the bill reads. It also notes that such assets "offer ... (full story)