TechFlow news, on November 20, according to Jinshi Data, Mauricio di Bartolomeo, co-founder of Ledn, said the possibility of the U.S. establishing a strategic Bitcoin reserve has increased after a state in the U.S. introduced a Strategic Bitcoin Reserve bill. Shortly after the introduction of the "Pennsylvania Bitcoin Strategic Reserve Act" last week, Bitcoin's price rose. The bill aims to allow the state to invest 10% of certain funds—including the general fund, rainy-day fund, and state investment fund—into Bitcoin. According to the state’s 2023 Annual Investment Report from the Treasury Department, these funds collectively manage approximately $51 billion in assets, meaning a 10% allocation would represent about $5.1 billion invested in Bitcoin.
Previously, U.S. Senator Cynthia Lummis introduced the "Bitcoin Act," proposing that the United States create a strategic Bitcoin reserve by purchasing up to 200,000 bitcoins annually over five years. If either of these bills becomes law, it could initially lead to the acquisition of $23.3 billion worth of Bitcoin on the open market. Approval of either proposal would significantly impact other sovereign portfolios, triggering discussions among the world’s largest asset managers regarding Bitcoin allocation. In the coming months, a U.S. strategic reserve could become central to most Bitcoin-related conversations.
