A Pennsylvania lawmaker has proposed a bill for the creation of a ‘strategic Bitcoin reserve’. The aim of the reserve would be to hold Bitcoin as a strategic asset for the state. The lawmaker believes that holding Bitcoin could potentially provide a hedge against economic uncertainty and inflation.
The bill, if passed, would authorize the State Treasurer to hold Bitcoin and create a task force to explore the potential benefits of holding the cryptocurrency. The lawmaker argues that Bitcoin has shown strong growth and resilience in recent years, making it a potentially valuable asset for the state to hold.
The concept of a strategic Bitcoin reserve is still relatively new, but some believe that it could become more common as governments and institutions look for alternative stores of value. The bill in Pennsylvania is one of the first of its kind in the United States, but it could pave the way for other states to follow suit.
It remains to be seen whether the bill will be passed and how the strategic Bitcoin reserve would be implemented. However, the proposal highlights the growing interest in Bitcoin and other cryptocurrencies as potential assets for government reserves.