Pennsylvania Proposes a Bitcoin Reserve to Recognize BTC’s Value

Key Points:

• Pennsylvania proposes a Bitcoin Reserve to hold BTC as an official state asset.
• Trump supports building U.S. Bitcoin reserves, pledging to prevent BTC sales if re-elected.

Pennsylvania proposes a Bitcoin Reserve, aiming to hold BTC as a state reserve asset to recognize its value; Trump pledges to boost US Bitcoin reserves if elected.

Pennsylvania Proposes a Bitcoin Reserve to Recognize BTC’s Value

New legislation in Pennsylvania could make it among the first states in the United States to hold Bitcoin on its balance sheet as a reserve asset. The bill introduced by the Pennsylvania House of Representatives seeks to officially recognize the value of Bitcoin as a means of storing wealth and to promote the broader mainstream adoption of the BTC in financial reserves. The legislation thereby falls in line with the emergent global trend, whereby governments and institutions increasingly recognize the increased value of cryptocurrency as a reserve asset.

Complementing Pennsylvania’s proposal, former U.S. President Donald Trump has commented on increasing U.S. Bitcoin reserves. If elected again, he promised not to let the government sell BTC and instead vowed to add more Bitcoin to strengthen the nation’s reserve assets. According to
Fox reporter Eleanor Terrett, this is a joining of policy from state and federal interests in a somewhat changed perspective toward digital assets within the framework of national and state finance.

Read more: Bitcoin Rights Bill Supported In Pennsylvania By Overwhelming Vote