• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

State Investments in Bitcoin: Pennsylvania on the Path to Innovation

user avatar

by Giorgi Kostiuk

8 months ago


Pennsylvania's legislature introduced a bill that could allow the state to invest in Bitcoin. Led by Representative Mike Cabell, the bill proposes to allocate up to 10% of three state funds into cryptocurrency.

Details of the Bill

The bill, known as the Pennsylvania Bitcoin Strategic Reserve Act, permits the allocation of up to 10% of the General Fund, Rainy Day Fund, and State Investment Fund in Bitcoin. Cabell argues that this could serve as a hedge against inflation and mitigate economic volatility.

Market Context and Influence

The proposal comes amid increased interest in Bitcoin in the U.S. Earlier, the Crypto Market Integrity Coalition urged Congress to establish a national regulatory framework for digital assets before the current legislative session concludes.

Implications for Pennsylvania

If passed, the bill would mark a significant step toward securing residents' rights to safely hold digital assets. Additionally, the legislation aligns with the federal trend of increasing crypto recognition.

Pennsylvania's proposed Bitcoin reserve highlights the growing recognition of cryptocurrencies as an economic safeguard. If enacted, the state could become a pioneer in crypto investments among American states.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

AllScale Secures $1.5M for Stablecoin Solutions Tailored for SMEs

chest

AllScale raises $1.5 million to enhance stablecoin tools aimed at small and medium enterprises.

user avatarGiorgi Kostiuk

DigitalX Raises AUD 20.7M to Expand Bitcoin Reserves

chest

DigitalX announces the successful raising of AUD 20.7M to increase Bitcoin reserves, strengthening leadership with Yat Siu's advisory appointment.

user avatarGiorgi Kostiuk

Activity of Automated Bots on LetsBonk and Pump.fun: Token Generation

chest

High activity of token generation by automated bots on LetsBonk and Pump.fun is changing the memecoin market landscape.

user avatarGiorgi Kostiuk

XRP: Fluctuations and Influencing Factors Behind Price Dynamics

chest

This article explores the past price movements of XRP and the factors influencing its dynamics, focusing on 2017 and current market expectations.

user avatarGiorgi Kostiuk

Dogecoin Up 5.86% as Speculation Grows Around America Party Support

chest

Dogecoin has risen by 5.86% due to speculation surrounding Elon Musk's new political party and potential support for cryptocurrencies.

user avatarGiorgi Kostiuk

SEC Streamlines Investment Path for Crypto ETFs: What It Means?

chest

SEC introduces a new standard for reviewing crypto ETFs, potentially transforming the digital asset market.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.