South Dakota’s volatility focus lowers its Bitcoin reserve bill after Wyoming and Montana leads as BTC drops below $90,000

South Dakota Legislature delayed vote on the bill Monday that could allow the state to pass Bitcoin BTC/USD As a strategic reserve asset.

what happened: Most legislators at the state House of Representatives Commerce and Energy Committee meeting voted to postpone the bill until the 41st day of the South Dakota legislative session.

Since the meeting lasts for 40 days, postponing the bill to day 41 means no longer considering it.

House Bill 1202 aims to allocate 10% of the state’s public funds to Bitcoin. represent. Logan ManhartThe person who introduced the bill last month said the bill was rejected because of “the concern of volatility.”

However, he did say he will reintroduce the legislation next year.

See: Peter Schiff’s Question Michael Saylor-led strategy leverages Bitcoin game as MSTR falls: “Massive dilution has destroyed shareholder value”

Why it matters: South Dakota’s move comes shortly after Montana’s House of Representatives rejected a similar legislation, proposing to invest public funds in Bitcoin.

According to Bitcoin law, the platform tracks the progress of Utah’s strategic bitcoin reserve bills, while Montana, North Dakota, Pennsylvania, South Dakota and Wyoming fail to push them forward .

As the president promises Donald Trump In his election.

It is worth noting that after taking office, Trump signed an executive order to assess “inventory of digital assets in strategic countries”, not just Bitcoin stocks

Price action: At the time of writing, Bitcoin was exchanged for $89,517.16, down 6.27% in the past 24 hours, according to Benzinga Pro.

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