Georgia's Second Bitcoin Reserve Bill Removes Investment Cap

A second Bitcoin reserve bill has been introduced in Georgia, allowing the state treasurer unrestricted authority to invest in Bitcoin.

This follows the submission of a previous bill just 10 days earlier, indicating increased interest in cryptocurrency within the state. If Senate Bill 228 is passed, it will eliminate investment limits on Bitcoin for the state treasury and mandate establishing policies for handling Bitcoin transactions.

The bill mandates that state treasury Bitcoin investments adhere to local policies and regulatory requirements. Unlike SB 178, SB 228 does not impose an investment cap, taking a more aggressive stance toward Bitcoin adoption. SB 228 is seen as a competitor to SB 178, introduced earlier and supported by Republican lawmakers.

A key distinction between the two bills lies in their approach to investment limits. While SB 178 proposes a 5% cap on Bitcoin holdings, SB 228 removes any restrictions on the state treasury’s investments, allowing for unlimited digital asset exposure.

SB 228, introduced by four state senators, including Senator Jason Esteves, is currently awaiting review. Meanwhile, SB 178, the first Bitcoin reserve bill, was introduced on February 14 by State Senator Greg Dolezal and co-sponsored by Senators Brandon Beach and Clint Dixon. Both bills reflect an increasing interest in leveraging Bitcoin as part of the state’s financial strategy.

Beyond Georgia, interest in cryptocurrency reserves is growing nationwide. According to the Bitcoin Reserve Monitor, at least 21 U.S. states are considering legislation establishing strategic Bitcoin reserves. While 19 of these proposals remain pending and two are still under review, four states—Wyoming, Montana, North Dakota, and Pennsylvania—have already rejected similar bills.

Although no strategic Bitcoin reserve bills have been enacted yet, Satoshi Act Fund CEO Dennis Porter predicts that Utah could be the first state to pass such legislation, setting a potential precedent for broader adoption at the state level.

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