Deep Tide TechFlow news, on November 20, according to Jinshi Data, Ledn co-founder Mauricio di Bartolomeo stated that the possibility of the United States establishing a strategic Bitcoin reserve has increased after a strategic Bitcoin reserve bill was proposed in a state in the U.S. Last week, shortly after the (Pennsylvania Bitcoin Strategic Reserve Bill) was proposed, the price of Bitcoin rose. The bill aims to allow the state to invest 10% of certain funds, including the general fund, rainy day fund, and state investment fund, in Bitcoin. According to the state's 2023 Treasury Annual Investment Report, these funds manage approximately $51 billion in assets, so a 10% allocation would represent about $5.1 billion in Bitcoin investment.
Previously, U.S. Senator Cynthia Lummis proposed the (Bitcoin Bill), suggesting that the U.S. create a strategic Bitcoin reserve, requiring the purchase of up to 200,000 Bitcoins per year for five years. If these bills become law, there could initially be Bitcoin worth $23.3 billion acquired in the open market. Approval of either of the above bills would have a significant impact on other sovereign portfolios, sparking discussions about Bitcoin allocations among the world's largest asset management firms. In the coming months, the U.S. strategic reserve may be at the center of most Bitcoin-related topics.
