Pennsylvania Plans to Allow State Treasurer to Invest in BTC

A Republican lawmaker in Pennsylvania is proposing a new bill, similar to one introduced by US Senator Cynthia Lummis, that would allow the state treasurer to invest in Bitcoin.

This bill, called the Strategic Bitcoin Reserve Act, is being co-sponsored by representatives Mike Cabell and Aaron Kaufer and has been introduced in the state’s House.

According to Cabell, investing in Bitcoin can act as a safeguard against inflation and many financial institutions and governments have already done so.

Studies have also shown that including a small percentage of Bitcoin in a portfolio can potentially contribute to its overall diversification and resilience.

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