West Virginia treasury proposes bitcoin & precious metals purchases ... late cycle signal?

West Virginia's recent legislation proposes allowing state treasury to allocate up to 10% of its resources into precious metals and qualified digital assets, primarily Bitcoin. The proposal is positioned as a hedge against inflation but faces uncertain political support and scrutiny over risk management. The bill emphasizes liquidity, only permitting assets with market capitalization over $750 billion, effectively limiting options to Bitcoin. While this suggests growing government interest in alternative assets, it may be more reflective of a late-cycle signal rather than a catalyst for further price increases, prompting caution among traders regarding near-term expectations.