@lega
Rep. Bill Schuette (R-MI) introduced House Bill 4510, which would authorize the state treasurer to invest retirement funds in cryptocurrencies, provided the assets averaged a market cap of at least $250 billion over the prior year.
This effectively limits the scope to Bitcoin, which hit a record $111,000 this week. The bill mandates such investments be made through exchange-traded products managed by registered investment firms to ensure oversight.
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