Pennsylvania Introduces Bill to Implement Strategic Bitcoin Reserve
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Pennsylvania’s legislature has introduced a bill allowing the state to invest in Bitcoin.
Led by Representative Mike Cabell, this bill would permit Pennsylvania to allocate up to 10% of three state funds — the General Fund, Rainy Day Fund, and State Investment Fund — into Bitcoin (BTC).
Cabell argues that Bitcoin could act as a hedge against inflation, helping protect the state’s economy amid economic volatility.
The bill, known as the Pennsylvania Bitcoin Strategic Reserve Act, aligns with a broader interest in Bitcoin as a store of value in the U.S., according to Fox.
Earlier on Nov. 14, the Crypto Market Integrity Coalition called on Congress to establish a national regulatory framework for digital assets before the current legislative session ends.
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