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Pennsylvania’s legislature has introduced a bill allowing the state to invest in Bitcoin.
Led by Representative Mike Cabell, this <a href="https://www.palegis.us/house/co-sponsorship/memo?memoID=43298" target="_blank" rel="noopener noreferrer nofollow">bill would permit</a> Pennsylvania to allocate up to 10% of three state funds — the General Fund, Rainy Day Fund, and State Investment Fund — into Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>).&nbsp;
Cabell argues that Bitcoin could act as a hedge against inflation, helping protect the state’s economy amid economic volatility.
The bill, known as the Pennsylvania Bitcoin Strategic Reserve Act, aligns with a broader interest in Bitcoin as a store of value in the U.S., <a href="https://www.foxbusiness.com/money/pennsylvania-house-introduces-bill-implement-strategic-bitcoin-reserve" target="_blank" rel="noopener noreferrer nofollow">according</a> to Fox.
Earlier on Nov. 14, the Crypto Market Integrity Coalition <a href="https://crypto.news/americans-are-waiting-act-now-cmic-urges-us-congress-to-legislate-crypto/" target="_blank" rel="noopener noreferrer nofollow">called on Congress</a> to establish a national regulatory framework for digital assets before the current legislative session ends.&nbsp;
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<h2 class="wp-block-heading" id="pro-bitcoin-sentiment-across-the-united-states">Pro-Bitcoin sentiment across the United States</h2>
This proposed legislation comes amid a nationwide pro-Bitcoin sentiment, with discussions about creating a national Bitcoin reserve should President-elect Donald Trump take office.
Trump’s campaign has advocated for <a rel="noopener noreferrer nofollow" href="https://crypto.news/donald-trump-teases-us-crypto-capital-of-the-planet-plan/">making the U.S.</a> the “crypto capital of the planet,” leading to speculation about Bitcoin’s potential role in the federal government.
Cabell cited the moves of major firms like <a href="https://crypto.news/tag/blackrock" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a> and Fidelity as examples, highlighting Bitcoin’s appeal for its potential to add stability to investment portfolios.
This legislation follows Pennsylvania’s recent Bitcoin Rights bill, which <a href="https://crypto.news/pennsylvania-passes-bill-allowing-bitcoin-payments-crypto-self-custody/" target="_blank" rel="noopener noreferrer nofollow">passed</a> the House. If signed into law, that bill would ensure residents’ rights to hold digital assets securely.&nbsp;
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Pennsylvania introduces bill to implement strategic bitcoin reserve

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