After MICHIGANUtah, Arizona and California, other states in the United States enter the cryptography arena. Recently, Indiana has joined the list with the introduction of Bill 1322 of the Chamber, to establish a strategic bitcoin reserve. However, this bill will allow the State’s pension funds to invest in Bitcoin FNB.
Indiana pension fund to invest in Bitcoin FNB
Indiana adopts a slightly different approach with the Introduction of the house bill 1322Written by the representative of the Jake Teshka State and co-written by representatives Shane Lindauer and Cory Criswell, who could potentially allow the state’s retirement funds to invest in Bitcoin ETF.
The proposal, currently being examined, aims to diversify investment options for Indiana pension funds. These funds are crucial for retirement savings of many employees, including teachers, firefighters and government employees.
By authorizing investments in Bitcoin FNB, the state could exploit the growing market of cryptocurrencies, which has drawn significant attention in recent years.
Although the details of the bill remain during a legislative examination and if the bill is approved, it will enter into force on July 1, 2025, as this could be a large step for Indiana.
Hang in the blockchain for better government
In addition to the HB 1322 of this Indiana does not focus only on FNB Bitcoin, it also examines how blockchain technology could help the government work better.
The bill asks the Ministry of Administration to study how blockchain can improve things such as profitability, data security and even the experience of people using government services.
Supporters praise the bill
Meanwhile, many supporters of the bill believe that the addition of FNB Bitcoin to the mixture could help diversify investments. Diversification is important because it spreads the risks and can lead to better yields over time.
The famous Crypto Mmcrypto expert said in an X post that it was one of the main movements of the Indiana states.
However, criticisms are concerned about the famous volatility of Bitcoin, its prices can increase and drop very quickly, which may not be ideal for retirement savings.