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Ethereum Market Cap Stabilizes Above $500 Billion, Approaching Investment Threshold of Some US States
BlockBeats News, August 10th, as the total market cap of Ethereum surpasses $500 billion, it has preliminarily reached the public fund investment threshold of some states in the United States:
· New Hampshire passed the Strategic Bitcoin Reserve Act on May 7th, which stipulates that the State Treasurer may invest up to 5% of public funds from the general fund and other authorized funds in these assets, with cryptocurrencies needing to be projects with a market cap exceeding $500 billion.
· The Governor of Texas signed the Bitcoin Reserve Act SB 21 on June 22nd, making it law. It will establish a fund managed by the state government, only investing in cryptocurrencies with an average market cap of at least $500 billion in the past 12 months and eligible to receive state budget appropriations.
· The Oklahoma House of Representatives voted on March 25th to pass the Strategic Bitcoin Reserve Act (not formally enacted into law yet). This act allows the state to invest 10% of public funds in Bitcoin or any digital asset with a market cap exceeding $500 billion.
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