TechFlow reports on November 15 that, according to The Block, Pennsylvania Republican Representatives Mike Cabell and Aaron Kaufer have jointly introduced the "Strategic Bitcoin Reserve Act." The bill 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 memo this week, Cabell said investing in bitcoin could serve as a "hedge against inflation." He noted that some of the world's largest investment firms, including BlackRock, Fidelity, and Franklin Templeton, have begun offering bitcoin investment options, and that Wisconsin has already made strategic investments in digital assets.
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