Court filings or official legal documents

Pennsylvania Becomes First State to Propose $7 Billion Strategic Bitcoin Reserve

Nov 14, 2024, 03:43 PM

Pennsylvania's House of Representatives has introduced legislation that would allow the state to hold Bitcoin as a reserve asset, aiming to establish it as a recognized store of value. The bill proposes the creation of a Strategic Bitcoin Reserve, potentially making Pennsylvania the first state to add Bitcoin to its balance sheet. The legislation suggests utilizing a $7 billion state fund for Bitcoin purchases. The news was first reported by Fox Business journalist Eleanor Terrett. Reports indicate that other states, with as many as 10 expressing interest, are also exploring similar initiatives.