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Georgia senators hold hearing on bills to let state invest in Bitcoin
Summary
A Georgia Senate committee held a hearing on two companion bills that would allow the state to include Bitcoin in permitted investments for state funds. Supporters urged early adoption and economic opportunity; the deputy state treasurer and witnesses flagged volatility, statutory limits and custody/security issues. No vote was taken.
Senator Dozle, chairman of the Georgia State Senate Banking Committee, opened a hearing on Senate Bill 178 and a closely similar bill, Senate Bill 228, that would add Bitcoin to the list of instruments the state treasury may invest in.
The bills would explicitly permit the state treasury or related state investment boards to hold Bitcoin, with one bill capping the allocation at 5% and both inserting security and custody standards into law. The committee treated the session as a hearing only; no committee vote or final action was taken.
Supporters told the committee that Bitcoin has matured into a widely traded, scarce digital asset and that several private investors, asset managers and jurisdictions are already including Bitcoin in portfolios. Steven Delorme, a product designer and Atlanta resident, said "Bitcoin is a money. It's a protocol, and it's a network," and added that many Georgia voters already hold Bitcoin privately.…
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