Internet reports that U.S. Senator Ant Thornton submitted the "Strategic Bitcoin Reserve Act" to the New Mexico Senate, proposing to invest 5% of public funds in Bitcoin, aiming to create an alternative treasury for the state. The proposed 5% allocation would diversify the state's funding and allow it to benefit from Bitcoin's long-term price appreciation. The bill also proposes that the bitcoin reserve be managed by state investment officers and operated under the supervision of the state investment board. The bill also clarifies the need for cold storage as a viable means of protecting Bitcoin in the state.