Pennsylvania House introduces bill to implement a strategic bitcoin reserve

Published On Nov 14, 2024, 11:45 AM

The Pennsylvania House has introduced the Bitcoin Strategic Reserve Act, allowing the state treasury to invest up to 10% of its funds in bitcoin, aiming to combat inflation and diversify its investment portfolio. This move follows increasing support for bitcoin at both state and national levels, especially with hopes tied to President-elect Trump's potential influence on cryptocurrency legislation. The bill reflects a broader trend as several states consider enhancing their cryptocurrency initiatives, with Pennsylvania being the first to legislate direct bitcoin purchases.