Mauricio di Bartolomeo, co-founder of Ledn, said the possibility of the United States establishing a strategic Bitcoin reserve has increased after a U.S. state proposed a strategic Bitcoin reserve bill.
Last week, Bitcoin prices rose shortly after the Pennsylvania Bitcoin Strategic Reserve Act was proposed. The bill aims to allow the state to invest 10% of certain funds, including general funds, rainy day funds, and state investment funds, in Bitcoin. According to the state's 2023 Treasury Annual Investment Report, these funds manage a total of approximately $51 billion in assets, so a 10% allocation would represent approximately $5.1 billion in Bitcoin investment.
Previously, U.S. Senator Cynthia Lummis proposed the Bitcoin Act, which proposes that the United States create a Bitcoin strategic reserve, requiring the purchase of up to 200,000 Bitcoins per year over a five-year period. If these bills are passed into law, initially $23.3 billion worth of Bitcoin could be acquired on the open market. The approval of either of the above two bills will have a significant impact on other sovereign portfolios, triggering discussions about Bitcoin allocations among the world's largest asset managers. In the coming months, the U.S. strategic reserve may be at the core of most Bitcoin-related topics. (Golden Ten)