Anthony 'Ant' Thornton, a New Mexico State Senator for District 19, has confirmed the introduction of a bill aimed at creating a strategic bitcoin reserve for the state. "It's NM Senate Bill 275," he said in a post on X on February 5.

"It's true," said Thornton. "It's NM Senate Bill 275."

Thornton's announcement follows an update on the same day by Dennis Porter, who confirmed that New Mexico is working on legislation that would allow Treasurer Laura Montoya to establish a "Strategic Bitcoin Reserve." Porter expressed gratitude to Thornton for his leadership on this initiative.

Screenshot of State Senator Ant Thornton's Feb. 5 post on X | X

Senate Bill 275, also known as the "Strategic Bitcoin Reserve Act," proposes allowing the state treasurer and the state investment council to invest in bitcoin using four categories of state funds: land grant permanent funds, severance tax permanent fund, tobacco settlement permanent fund, and any other state fund deemed appropriate by the state investment council. The bill stipulates that bitcoin investments should not exceed 5% of the total amount in these funds. The digital assets would be managed by either the state treasurer’s office or the state investment council. Furthermore, there is a requirement to transfer bitcoin to the state's general fund within 60 days, with any transferred digital asset needing reimbursement in U.S. currency.

Currently, Senate Bill 275 is being reviewed by the Senate Taxation, Business, and Transportation Committee. New Mexico joins over a dozen other states exploring similar initiatives involving bitcoin. While some states like North Dakota and Wyoming have seen such bills fail, Arizona is reportedly making progress. On a national level, former President Donald Trump has tasked David Sacks with examining options for establishing a national bitcoin reserve, setting a deadline of 180 days for developing a framework.

Thornton is an aerospace engineer from Bernalillo County and was elected in 2024 to represent Senate District 19 after succeeding Dr. Gregg Schmedes. His campaign emphasized technological innovation and economic diversification. He has been acknowledged for his contributions to both the aerospace industry and community involvement.