Alabama Seeks to Invest State Funds in Bitcoin

Alabama lawmakers have proposed legislation to allow the state to invest a portion of its public funds in Bitcoin. Senate Bill 283, introduced this week by Sen. April Weaver, is paired with House Bill 482, which was introduced earlier this year. The bill would authorize up to 10% of state funds to be allocated for investment in digital assets, limited to those with a market capitalization exceeding $750 billion. The legislation specifies the state can invest only in Bitcoin (BTC) directly held by the state treasurer or through qualified custodians. This approach aims to expedite the legislative process through identical bills introduced in both chambers.