A Pennsylvania lawmaker has introduced a bill that would allow the state treasurer to invest in bitcoin and crypto ETFs as a hedge against inflation. The bill, called the Strategic Bitcoin Reserve Act, is cosponsored by Republican Reps. Mike Cabell and Aaron Kaufer. It would enable Pennsylvania's state treasurer to invest in bitcoin, digital assets, and crypto-based exchange-traded products. The bill is similar to one introduced by U.S. Sen. Cynthia Lummis called the BITCOIN Act, which outlines a pathway for U.S. states and federal agencies to hold bitcoin.

The Pennsylvania legislature has proposed landmark legislation aimed at allocating $7 billion to establish a BTC reserve to combat inflation and secure future economic assets. The bill has passed in the House and is currently under review in the Senate. Pennsylvania has the potential to become a model for broader legislative efforts across the United States. Governor Josh Shapiro's support is crucial for the bill's enactment. This initiative underscores the growing interest among state legislators in exploring BTC as a fiscal stabilizer.

The Pennsylvania legislature has proposed landmark legislation to establish BTC reserves, positioning the state at the forefront of digital asset policy in the United States. This bill, led by Representative Mike Cabell, is a strategic hedge against inflation and ensures Pennsylvania's future economic assets. This news comes after the Pennsylvania House of Representatives passed the BTC Rights Bill, and the Pennsylvania Senate is currently reviewing the legislation. According to Dennis Porter, co-founder of the Satoshi Action Fund, . Porter recently stated at an event in the X space, "This initiative puts Pennsylvania ahead of other states, preparing for a future centered around digital assets." Porter also noted that other states are considering similar legislation, emphasizing that Pennsylvania could become a model for broader legislative efforts across the country. Representative Cabell is a key figure in promoting the reserve initiative, and he acknowledged the collaborative support from legislators and advocacy groups. Cabell stated, . "This work cannot be accomplished by one legislator or even a group of legislators. It requires understanding the intricacies of policy and having advocates who can help facilitate these relationships within the state legislature and Congress." According to the Satoshi Action Fund, , efforts are currently underway to secure Senate approval and the governor's support. Cabell pointed out that Pennsylvania's $7 billion "rainy day fund" is an example that could be allocated to BTC assets, especially in a context where inflation erodes purchasing power. Cabell's proposal calls for an initial allocation ratio of up to 10% for BTC, not . Cabell cited investment strategies from companies like Fidelity, indicating that a modest allocation to BTC could serve as a prudent diversification measure within the national investment portfolio. Porter further emphasized the significance of this initiative as a foundational step for "state-level adoption of digital assets." "We see interest from at least ten other states, and some legislators are already in the drafting process, ready to propose similar legislation." Porter believes, . The support of Pennsylvania Governor Josh Shapiro is crucial for the enactment of this bill. With bipartisan support, this measure aligns with Shapiro's forward-looking approach to economic competitiveness, indicating that Pennsylvania is ready to adopt innovative asset strategies. According to the Satoshi Action Fund, Shapiro's administration is open to initiatives that promote financial resilience, particularly in the current uncertain economic climate. and sets a precedent for digital asset management by the state government. This initiative highlights the growing interest among state legislators in exploring the role of BTC as a fiscal stabilizer, with Pennsylvania leading a widespread shift in state-level fiscal policy across the United States.

Pennsylvania may invest 7 billion USD to establish a BTC reserve.

According to Foresight News and reported by The Block, Pennsylvania lawmakers Mike Cabell and Aaron Kaufer have proposed a Bitcoin Strategic Reserve Bill, which has been submitted to the Pennsylvania House of Representatives. This bill would allow the Pennsylvania Treasurer to invest in Bitcoin, digital assets, and cryptocurrency ETFs. Mike Cabell stated, "In recent years, many financial institutions and sovereign governments, including the United States, have invested in Bitcoin to protect their portfolios from economic fluctuations. Research shows that holding a small percentage of Bitcoin reserves can enhance portfolio diversification and resilience."

Pennsylvania lawmaker introduces a bill to invest in Bitcoin and crypto ETFs as a hedge against inflation.

According to a report from The Block on November 15, TechFlow has announced that Pennsylvania Republican Representatives Mike Cabell and Aaron Kaufer have jointly proposed the "Strategic Bitcoin Reserve Bill," which will allow the state treasury to invest in Bitcoin, digital assets, and cryptocurrency ETF products. This proposal follows a similar bill previously introduced by U.S. Senator Cynthia Lummis. In a memo this week, Cabell stated that investing in Bitcoin can "hedge against inflation." He pointed out that some of the world's largest investment firms, including BlackRock, Fidelity, and Franklin Templeton, have begun offering Bitcoin investment options, and Wisconsin has also made strategic investments in digital assets.

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According to Deep Tide TechFlow, on November 15, reported by The Block, Pennsylvania Republican Representatives Mike Cabell and Aaron Kaufer have jointly proposed the "Strategic Bitcoin Reserve Act," which would allow the state treasury to invest in Bitcoin, digital assets, and cryptocurrency ETF products. This proposal follows a similar bill previously introduced by U.S. Senator Cynthia Lummis.
In a memorandum this week, Cabell stated that investing in Bitcoin can "hedge against inflation." He pointed out that some of the world’s largest investment firms, including BlackRock, Fidelity, and Franklin Templeton, have begun to offer Bitcoin investment options, and Wisconsin has also made strategic investments in digital assets.
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Pennsylvania lawmaker introduces a bill allowing state treasury to invest in Bitcoin and crypto ETFs to combat inflation.

According to BlockBeats, on November 15, The Block reported that a Pennsylvania lawmaker is pushing for a new bill that would allow the state treasurer to invest in Bitcoin, following a similar proposal put forward by U.S. Senator Cynthia Lummis. The bill, titled the "Strategic Bitcoin Reserve Act," is co-sponsored by Republican representatives Mike Cabell and Aaron Kaufer and has been submitted to the Pennsylvania House of Representatives. The bill would allow the Pennsylvania treasurer to invest in Bitcoin, digital assets, and cryptocurrency-based exchange-traded products. In a memo submitted this week, Cabell stated that investing in Bitcoin could "hedge against inflation."

According to BlockBeats, on November 15, The Block reported that a Pennsylvania legislator is pushing for a new bill that would allow the state treasurer to invest in Bitcoin, following a similar proposal by U.S. Senator Cynthia Lummis. The bill, titled the "Strategic Bitcoin Reserve Act," is co-sponsored by Republican representatives Mike Cabell and Aaron Kaufer and has been introduced in the Pennsylvania House of Representatives. The bill would allow the Pennsylvania state treasurer to invest in Bitcoin, digital assets, and cryptocurrency-based exchange-traded products. In a memo submitted this week, Cabell stated that investing in Bitcoin could "hedge against inflation."

Pennsylvania lawmakers proposed a bill to invest in Bitcoin and cryptocurrency ETFs to "hedge against inflation."

BlockBeats News, November 15th, according to The Block, a Pennsylvania legislator is pushing a new bill that would allow the state's financial officer to invest in Bitcoin, similar to a proposal made by U.S. Senator Cynthia Lummis. The bill, named the 'Strategic Bitcoin Reserve Act,' was co-sponsored by Republican Representatives Mike Cabell and Aaron Kaufer and has been introduced in the Pennsylvania House of Representatives. This bill would permit the Pennsylvania state financial officer to invest in Bitcoin, digital assets, and cryptocurrency-based exchange-traded products. In a memo submitted this week, Cabell stated that investing in Bitcoin could 'hedge against inflation.'

BlockBeats News, November 15th, according to The Block, a Pennsylvania legislator is pushing a new bill that would allow the state's financial officer to invest in Bitcoin, similar to a proposal made by U.S. Senator Cynthia Lummis. The bill, named the "Strategic Bitcoin Reserve Act," was co-sponsored by Republican Representatives Mike Cabell and Aaron Kaufer and has been introduced in the Pennsylvania House of Representatives. This bill would permit the Pennsylvania state financial officer to invest in Bitcoin, digital assets, and cryptocurrency-based exchange-traded products. In a memo submitted this week, Cabell stated that investing in Bitcoin could "hedge against inflation."

Pennsylvania Lawmaker Introduces Bill to Invest in Bitcoin and Cryptocurrency ETF to 'Hedge Against Inflation'

According to Fox reporter Eleanor Terrett, today the Pennsylvania House of Representatives proposed legislation that would allow the state to keep Bitcoin on its balance sheet as a reserve asset to more broadly recognize BTC as a means of storing value. Trump has also said that after being elected, he will stop the US government from selling Bitcoin and build up Bitcoin reserves.


TRUMP

MAGA

JUST IN: 🇺🇸 Pennsylvania introduces bill to create a #Bitcoin Strategic Reserve for the state.

BlockBeats News, November 14th, Fox Business reporter Eleanor Terrett revealed in a post on X that the Pennsylvania House of Representatives has introduced legislation that would allow the state to list Bitcoin on its balance sheet as a reserve asset, recognizing Bitcoin as a store of value.

BlockBeats News, November 14th, Fox Business reporter Eleanor Terrett revealed in a post on X that the Pennsylvania House of Representatives has introduced legislation that would allow the state to list Bitcoin on its balance sheet as a reserve asset, recognizing Bitcoin as a store of value.

Pennsylvania Proposes Legislation to Add BTC to Its Balance Sheet as a Reserve Asset

The Pennsylvania House of Representatives has introduced legislation that would enable the state to hold Bitcoin as a reserve asset on its balance sheet, recognizing Bitcoin as a store of value.

BlockBeats News, on November 14, Fox Business reporter Eleanor Terrett disclosed in a post on X that the Pennsylvania House of Representatives has introduced legislation that would allow the state to hold Bitcoin as a reserve asset on its balance sheet, acknowledging Bitcoin as a store of value.

Pennsylvania proposes legislation to include BTC as a reserve asset on its balance sheet.

According to Fox reporter Eleanor Terrett, the Pennsylvania House has introduced legislation today that would allow the state to hold Bitcoin as a reserve asset on its balance sheet, acknowledging BTC more broadly as a store of value.

According to Fox reporter Eleanor Terrett, the Pennsylvania House of Representatives proposed legislation today that would allow the state to hold Bitcoin as a reserve asset on its balance sheet, further recognizing BTC as a store of value.

Fox News Reporter: The Pennsylvania House has proposed legislation allowing BTC to be held on its balance sheet.

The Pennsylvania House of Representatives has proposed legislation to include Bitcoin as a state reserve asset. This initiative is an important part of the state's broader effort to recognize Bitcoin as a store of value.

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According to a report by Fox Business journalist Eleanor Terrett on November 14, the Pennsylvania House of Representatives has introduced a legislative proposal today that would allow the state to hold Bitcoin as a reserve asset on its balance sheet. This move is an important part of the state's broader effort to recognize Bitcoin as a store of value.
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The Pennsylvania state legislature has proposed a legislative initiative to include BTC as a state reserve asset.

According to Fox reporter Eleanor Terrett, the Pennsylvania House of Representatives submitted a legislative proposal today that would allow the state to include Bitcoin (BTC) as a reserve asset on its balance sheet.

PANews, November 14th, reported by Fox reporter Eleanor Terrett, that the Pennsylvania House of Representatives submitted a legislative proposal today allowing the state to include Bitcoin (BTC) as a reserve asset on its balance sheet.

Fox News Reporter: The Pennsylvania House of Representatives today submitted a legislative proposal to "incorporate Bitcoin as a reserve asset on the balance sheet."

Pennsylvania proposes a Bitcoin reserve bill, allowing up to 10% of state funds in BTC to combat inflation and boost financial resilience.

The Pennsylvania House of Representatives has drafted a bill to add a strategic Bitcoin reserve for the state. The bill has been presented by Republican Representative Mike Cabell, and this bill seeks to permit the treasury of Pennsylvania to invest up to 10% of its funds in Bitcoin.

Cabell described the bill as a means to fight inflation and to enable the state to hold an asset that is resistant to economic fluctuations, something that BlackRock and Fidelity have recently done by investing in Bitcoin.
Pennsylvania House Bill To Create State Bitcoin Reserve
According to Representative Cabell’s proposal, Pennsylvania can protect its reserves from the effects of inflation by owning Bitcoin. The bill titled the ‘Pennsylvania Bitcoin Strategic Reserve Act’ allows the state treasurer to make an investment of up to 10% of the state’s General Fund, Rainy Day Fund, and State Investment Fund in Bitcoin. This development is significant as it provides a bullish outlook for the Bitcoin price. 

With the state's General Fund valued at over $9.7 billion, this could translate to a significant investment in the cryptocurrency.

Cabell said that adopting Bitcoin would place the state at the forefront of the new financial system and make the state more economically stable. In an interview, he said, 
“With the incorporation of Bitcoin into the reserves, we are not only shielded Pennsylvania from the effects of inflation but also enhancing the state as a financial powerhouse for the future.”
Support for State-Level BTC Reserves Grows
Pennsylvania’s Bitcoin reserve bill is presented at a time when other states and the federal government are considering similar measures. As President-elect Donald Trump prepares to return to the White House, there is increasing confidence that a national Bitcoin reserve can be initiated in his first year in office.

Pro-crypto legislators like U.S. Senator Cynthia Lummis have suggested that establishing a federal Bitcoin reserve could be high on Trump’s agenda during his first 100 days in office. In addition to Pennsylvania, other states like Michigan and Wisconsin have started to include cryptocurrency investments in their pension funds with the help of Bitcoin ETFs. 
Satoshi Action Fund’s Influence on State-Level Bitcoin Legislation
The Bitcoin Strategic Reserve Act was crafted with input from the Satoshi Action Fund, a Bitcoin advocacy group. This organization has been working closely with lawmakers nationwide to promote Bitcoin’s role as a viable asset class for state investment portfolios. Satoshi Action Fund’s founder, Dennis Porter, expressed optimism about the bill’s chances, citing recent bipartisan support for another cryptocurrency-related bill in Pennsylvania.

In October, Pennsylvania’s House passed the Bitcoin Rights bill, which protects residents’ rights to self-custody digital assets and uses Bitcoin as a payment method. The bill passed the Democrat-led House with a strong majority, and Porter believes the Strategic Reserve Act will garner similar bipartisan support.

If passed, the Bitcoin reserve bill could serve as a model for other states considering cryptocurrency investments. The Satoshi Action Fund reports that it is currently in talks with lawmakers in 10 additional states interested in introducing similar legislation.

Pennsylvania House Pushes Bill To Create State Bitcoin Reserve

According to the latest development, a state in the USA has taken the first step towards holding Bitcoin as a reserve asset. In a sweeping move to recognize BTC as a store of value, the Pennsylvania House of Representatives has introduced legislation that would allow the state to hold Bitcoin as a reserve asset on its balance sheet, according to information shared by cryptocurrency journalist Eleanor Terrett. *This is not investment advice.

In a sweeping move to recognize BTC as a store of value, the Pennsylvania House of Representatives has introduced legislation that would allow the state to hold Bitcoin as a reserve asset on its balance sheet, according to information shared by cryptocurrency journalist Eleanor Terrett. *This is not investment advice.

BREAKING NEWS: Pennsylvania Introduces Bill to Hold Bitcoin as Reserve Asset

A Pennsylvania lawmaker is pushing for a new bill that would allow the state treasurer to invest in bitcoin, following in the footsteps of U.S. Sen. Cynthia Lummis' similar proposal.The Strategic Bitcoin Reserve Act is cosponsored by Republican Reps. Mike Cabell and Aaron Kaufer and has been introduced in the Pennsylvania House. The bill would allow Pennsylvania's state treasurer to invest in bitcoin, digital assets and crypto-based exchange-traded products. The news was first reported by Fox Business on Thursday.Cabell said investing in bitcoin could "hedge against inflation," in a memo filed this week."In recent years, many financial institutions and sovereign governments, including the United States, have invested in Bitcoin to shield their portfolios from economic volatility. The world’s largest investment firms — such as BlackRock, Fidelity and Franklin Templeton — now offer Bitcoin options, and states like Wisconsin have also made strategic investments in digital assets," Cabell said in the memo. "Studies suggest that holding a small percentage of reserves in Bitcoin can contribute to a well-diversified and resilient portfolio."Cabell did not respond to a request for comment.On the federal level, Sen. Lummis, R-Wyo., has introduced a similar bill called the "Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide Act of 2024," a.k.a. the BITCOIN Act. That bill lays out a pathway for U.S. states and federal agencies to hold bitcoin.Lummis, a bitcoin holder, has been a vocal supporter of the crypto industry for years. She has signaled that her bill could be passed in the first 100 days in the Trump administration, considering the president-elect's many overtures to crypto advocates on the campaign trail."I believe we can get this done with bipartisan support in the first 100 days IF we have the support of the people," Lummis said in a post on X on Monday. "It is a game changer for the solvency of our nation. Let’s put America on sound financial footing and pass the Bitcoin Act!"

Pennsylvania Legislators Introduce Bill to Invest in Bitcoin and Crypto ETFs as a 'Hedge Against Inflation'

The Pennsylvania House seeks to establish Bitcoin as a strategic reserve, aiming to hedge inflation and diversify state treasury assets.

The Pennsylvania House seeks to establish Bitcoin as a strategic reserve, aiming to hedge inflation and diversify state treasury assets.
The post <a href="https://cryptobriefing.com/pennsylvania-bitcoin-strategic-reserve-2/" target="_blank">Pennsylvania House moves to establish Bitcoin as a strategic reserve asset</a> appeared first on <a href="https://cryptobriefing.com" target="_blank">Crypto Briefing</a>.

Pennsylvania House moves to establish Bitcoin as a strategic reserve asset

The proposed legislation would allow the State of Pennsylvania’s Treasurer to invest up to 10% of its funds in Bitcoin, suggesting a multibillion-dollar investment.

<img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/11/15/iwjqtt2gooyi.png'/>The proposed legislation would allow the State of Pennsylvania’s Treasurer to invest up to 10% of its funds in Bitcoin, suggesting a multibillion-dollar investment.

Pennsylvania lawmaker introduces bill for ‘strategic Bitcoin reserve’

一位宾夕法尼亚州的立法者提出了一项法案，允许州财政部长投资于比特币和加密货币ETF，以对抗通货膨胀。这项名为《战略比特币储备法案》的法案由共和党众议员Mike Cabell和Aaron Kaufer共同发起。该法案将使宾夕法尼亚州的财政部长能够投资于比特币、数字资产和基于加密货币的交易所交易产品。该法案与美国参议员Cynthia Lummis提出的《比特币法案》类似，后者概述了美国各州和联邦机构持有比特币的途径。

宾夕法尼亚州立法者提出法案，计划投资于['bitcoin']和加密货币ETF，以作为对抗通货膨胀的‘对冲’。

一位賓夕法尼亞州的立法者提出了一項法案，允許州財政部長投資於比特幣和加密貨幣ETF，以對抗通貨膨脹。這項名爲《戰略比特幣儲備法案》的法案由共和黨衆議員Mike Cabell和Aaron Kaufer共同發起。該法案將使賓夕法尼亞州的財政部長能夠投資於比特幣、數字資產和基於加密貨幣的交易所交易產品。該法案與美國參議員Cynthia Lummis提出的《比特幣法案》類似，後者概述了美國各州和聯邦機構持有比特幣的途徑。