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ETH breaks through 500 billion market capitalization, reaching the public fund investment threshold in multiple states in the US.
[Golden Finance] News on August 10, as Ethereum's total market capitalization surpasses 500 billion USD, it has preliminarily reached the public fund investment threshold of some states in the United States:
On May 7, New Hampshire passed a strategic Bitcoin reserve bill, which stipulates that the financial officer may invest up to 5% of public funds from the general fund and other authorized funds in these assets, where the crypto assets must be projects with a market capitalization of over $500 billion.
The governor of Texas signed the Bitcoin Reserve Act SB 21 on June 22, officially making it law. A fund managed by the state government 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, which are eligible for state budget appropriations.
The Oklahoma House of Representatives voted on March 25 to pass the Strategic Bitcoin Reserve Bill (which has not yet officially become law). The bill allows the state to invest 10% of public funds in Bitcoin or any digital asset with a market capitalization exceeding $500 billion.