According to BlockBeats, on November 15, The Block reported that a Pennsylvania legislator is pushing a new bill to allow the state treasurer to invest in Bitcoin, following a similar proposal made by US Senator Cynthia Lummis.
The bill, titled the Strategic Bitcoin Reserve Act, was co-sponsored by Republican Representatives Mike Cabell and Aaron Kaufer and has been introduced in the Pennsylvania House of Representatives. The bill would allow the Pennsylvania Treasurer to invest in bitcoin, digital assets and cryptocurrency-based exchange-traded products.
Cabell said in a memo filed this week that investing in Bitcoin could be a "hedge against inflation."
