Pennsylvania’s legislature has introduced a bill to establish a Bitcoin reserve, making it the first state to do so. The bill, led by Representative Mike Cabell, aims to allocate a portion of the state’s reserves exclusively to Bitcoin as a hedge against inflation. The move comes after Pennsylvania passed the Bitcoin Rights bill through its House and is currently being considered by the PA Senate.
According to Dennis Porter, co-founder of the Satoshi Action Fund, Pennsylvania’s adoption of Bitcoin reserve legislation reflects a proactive stance in response to financial instability and inflationary pressures. Similar legislation is also being considered in other states, highlighting Pennsylvania as a potential model for broader legislative efforts across the US.
If the bill passes, Pennsylvania would be the first state to adopt a Bitcoin reserve and set a precedent for digital asset management in state government.
