A State Representative is proposing a bill that would allow the Commonwealth to invest into a cryptocurrency.
Pennsylvania State Congressman Mike Cabell will be introducing legislation that will allow the state Treasurer to invest up to 10 percent of the State General Fund, rainy day fund, and the state investment fund into Bitcoin.
Cabell a representative from Luzerne County says that holding a small percentage of Bitcoin “can contribute to a well-diversified and resilient portfolio.” Also saying Bitcoin can “offer stability in uncertain economic times.”
Bitcoin currently sits at over $90,000 and was at $35,000 this time last year.
The post State Rep. Proposes Putting ‘Rainy Day Funds’ Into Bitcoin appeared first on ButlerRadio.com – Butler, PA.
