Pennsylvania lawmakers have introduced the groundbreaking Pennsylvania Bitcoin Strategic Reserve Act, a first-of-its-kind bill that would allow the state treasury to invest up to 10% of its $7 billion reserves in Bitcoin. The goal is to hedge against inflation and add diversification beyond traditional assets like bonds and cash. This proposal marks a historic step toward integrating digital assets into state investment portfolios. The Pennsylvania Bitcoin Strategic Reserve Act is a visionary step to secure our financial future," said Republican state Rep. Mike Cabell, who is sponsoring the bill. "By incorporating Bitcoin, we're not only protecting Pennsylvania from inflation's persistent effects but also establishing ourselves as leaders in financial resilience and innovation. [link] [comments] |
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