Pennsylvania wants to implement a strategic Bitcoin reserve

President-elect Donald Trump’s proposal to create a national bitcoin reserve is gaining traction across the country as several states are now weighing plans to implement their own cryptocurrency reserves.

The prospect of Trump’s return to the White House has sparked Pennsylvania lawmakers to introduce legislation that would enable the state’s treasury to hold the world’s largest digital asset on its balance sheet as part of a broader movement to recognize bitcoin as a store of value. The legislation comes as pro-crypto Republican Sen. Cynthia Lummis of Wyoming says she’s hoping to push through her own bitcoin reserve bill on the national level during the first 100 days of Trump’s presidency.

Optimism that Trump, who takes office again in January, will fulfill his promises to make the U.S. the “crypto capital of the planet” and bitcoin a “permanent national asset” has made its price surge 20% in the week since his victory, reaching an all-time high of more than $93,000 per token and a market cap of over $1.8 trillion. This makes bitcoin the world’s seventh-largest asset behind gold and five U.S. tech giants, including Nvidia, Apple, Microsoft, Amazon and Google.

It’s Happening 🙂