An increasing number of U.S. states are making moves to incorporate Bitcoin as part of their strategic fiscal reserves.
On Nov. 14, Pennsylvania house representatives introduced the Pennsylvania Bitcoin Strategic Reserve Act, a bill that would allow the state’s treasury to hold Bitcoin on its balance sheet.
The bill calls for Pennsylvania to allocate up to 10% of its roughly $7 billion in state-owned reserve assets in a bid to hedge against inflation and diversify its investments. The bill was authored in partnership with the Satoshi Action Fund (SAF), a non-profit Bitcoin advocacy group.
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#undefined [Source: TheDefiant]