Pennsylvania lawmaker introduces a bill allowing state treasury to invest in Bitcoin and crypto ETFs to combat 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.
Pennsylvania lawmaker introduces a bill allowing state treasury to invest in Bitcoin and crypto ETFs to combat 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.
