If New Mexico passes the new bill, it can purchase up to $2 billion BTC.

If New Mexico passes a new bill, it may purchase up to $2 billion of BTC. Earlier reports indicated that U.S. Senator Ante Santon submitted the 'Strategic BTC Reserve Act' to the New Mexico Senate, proposing a 5% investment of the state's public funds in BTC to create an alternative reserve for the state. The proposed 5% allocation would diversify the state's funds and allow BTC to benefit from long-term price increases. The bill also suggests that the state investment officer would manage the BTC reserve, operating under the supervision of the state investment committee. Furthermore, the proposal explicitly outlines the need for cold storage to protect the state's BTC.