Louisiana Becomes First in the Nation to Accept Bitcoin and Crypto for State Services

Sep 18, 2024, 10:07 PM

The State of Louisiana has become the first in the nation to accept Bitcoin and other cryptocurrencies as valid forms of payment for state services. The Louisiana Treasury Department announced that it will now accept Bitcoin via the Lightning network, as well as USD stablecoins. This move is part of a broader initiative led by Governor Jeff Landry to establish a Bitcoin Strategic Reserve in the state. The first transaction was a hunting license purchased using Bitcoin. Louisiana State Treasurer John Fleming emphasized that this initiative aims to provide citizens with more flexibility and freedom. The announcement also included a prediction that the value of the crypto market will triple to $7.5 trillion by 2028.