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New Hampshire, North Dakota introduce bills for Strategic Bitcoin Reserve
New Hampshire and North Dakota have become the latest US states to introduce legislation for a strategic Bitcoin reserve, signaling a continued push among lawmakers to diversify state treasuries with the cryptocurrency.
According to Satoshi Action Fund CEO Dennis Porter, the New Hampshire bill was introduced by Representative Keith Ammon, a Republican who represents the 40th District.
The New Hampshire bill doesn’t explicitly mention Bitcoin but instead refers to “digital assets.” Porter said this is a way for state lawmakers to push through the legislation without causing political friction.
On the same day, legislation for a strategic Bitcoin reserve was also introduced in North Dakota, championed by Representative Nathan Toman, Representative Josh Christy and Senator Jeff Barta.
Bitcoin corporate treasury shareholder proposal submitted to Meta
A Meta shareholder proposal submitted by Ethan Peck requested that the social media company convert a portion of its $72 billion in cash and short-term cash equivalents to Bitcoin as a hedge against currency debasement.
Peck wrote that Meta is losing 28% of its cash assets over time due to inflation and cited Bitcoin outperforming bonds by 1,262% over the past five years as evidence for adopting the asset. Peck also wrote in the proposal:
“Mark Zuckerberg named his goats ‘Bitcoin’ and ‘Max.’ Meta director Marc Andreessen has praised Bitcoin and is also a director at Coinbase. Do Meta shareholders not deserve the same kind of responsible asset allocation for the Company that Meta directors and executives likely implement for themselves?”
Peck is an employee of The National Center for Public Policy Research — a Washington DC-based think-tank promoting free market policies — which submitted Bitcoin treasury shareholder proposals to…
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