[Ethereum market capitalization holds above 500 billion dollars, initially reaching the investment threshold for certain states in the US]



As the total market capitalization of Ethereum surpasses $500 billion, it has preliminarily reached the public fund investment threshold in some states in the United States: · On May 7, New Hampshire passed the Strategic Bitcoin Reserve Bill, which stipulates that the financial supervisor may invest up to 5% of public funds from the general fund and other authorized funds in these assets, provided that the crypto assets must be projects with a market capitalization of over $500 billion. · On June 22, the Governor of Texas signed the Bitcoin Reserve Bill SB 21, officially making it law. A state-managed fund will be created, and it will only invest in cryptocurrencies with an average market capitalization of at least $500 billion over the past 12 months that are eligible for state budget allocations. · On March 25, the Oklahoma House of Representatives voted to pass the Strategic Bitcoin Reserve Bill (not yet officially passed into law). This bill allows the state to invest 10% of public funds in Bitcoin or any digital asset with a market capitalization exceeding $500 billion. Currently, only Bitcoin and Ether meet this standard of a market capitalization of $500 billion.
ETH-2.19%
BTC-0.72%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)