Summary:
- The Utah Senate has passed a bill to create a "Bitcoin Strategic Reserve" for the state, aiming to make Utah a leader in cryptocurrency adoption.
- The bill originally proposed that the state invest up to $100 million in Bitcoin, but this was amended to require the state to invest only up to 20% of its cash reserves in digital assets.
- The bill still needs to be signed into law by the Governor, and if enacted, it would make Utah the first U.S. state to hold Bitcoin as part of its treasury reserves.