• 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

Impact of GENIUS Act: Trump Establishes Federal Stablecoin Guidelines

chest

President Trump has signed the GENIUS Act, establishing federal regulations for stablecoins and impacting the U.S. crypto landscape.

user avatarGiorgi Kostiuk

New Opportunities in the Meme Cryptocurrency Market: Troller Cat Gaining Popularity

chest

Exploring the rise of Troller Cat amid shifts in meme cryptocurrencies and the current status of Shiba Inu and Pepe.

user avatarGiorgi Kostiuk

Bit Digital Makes $67.3 Million Ethereum Purchase, Strengthening Its Holdings

chest

Bit Digital invests $67.3 million in Ethereum, raising total holdings to nearly 120,306 coins.

user avatarGiorgi Kostiuk

Block Inc. Joins S&P 500, Replacing Hess Corp.

chest

Block Inc. will replace Hess Corp. in the S&P 500, potentially impacting Bitcoin's acceptance by institutional investors.

user avatarGiorgi Kostiuk

XRP Sets New Record Following Legislative Changes

chest

XRP hit $3.66, surpassing previous records due to increased investor interest and the expected signing of the GENIUS Act.

user avatarGiorgi Kostiuk

MEI Pharma and Litecoin: New $100 Million Treasury Strategy

chest

MEI Pharma has announced a $100 million treasury strategy with Litecoin, led by Litecoin creator Charlie Lee. Market reaction was volatile.

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.