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In Pennsylvania è stata proposta una legge che renderebbe legale per lo Stato adottare Bitcoin come riserva. The proposal was put forward by the Republican representative Mike Cabell of the State House of Representatives, and its purpose would be to defend against inflation. Pennsylvania: the bill to use Bitcoin as a State reserve In the official memo Cabell reveals that the bill would allow the Pennsylvania State Treasurer to invest up to 10% of the funds in Bitcoin. For now, however, it is only a bill, and since it has not yet been approved, it has not yet come into effect. Furthermore, the law would allow Pennsylvania to invest in Bitcoin, but it would not obligate it. If approved, the State General Fund, the Rainy Day Fund, and the State Investment Fund would have the opportunity to invest 10% of their funds in Bitcoin.  Note that the Treasury of the State of Pennsylvania has more than 9.7 billion dollars in its General Fund, and about 7 billion in its Rainy Day Fund, so in total they could invest in Bitcoin more than one and a half billion dollars.  The idea of Cabell  Cabell cited BlackRock and Fidelity as references, which have turned to BTC to protect their portfolios from economic volatility.  Note that at this moment Pennsylvania is governed by the Democrats, who also have the majority in its Parliament. However, the Democratic majority is very slim, and in the presidential elections on November 5, the Republicans won.  Probably right after the victory on November 5, Cabell decided to introduce a similar law, now that the wind seems to have changed.  However, given that the majority in Pennsylvania is still democratic, his bill will easily be obstructed and might not be approved.  Cabell was inspired by the framework proposed by…

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Filed under: News - @ November 15, 2024 10:25 am