Ledn co-founder Mauricio di Bartolomeo stated that the possibility of the United States establishing a strategic Bitcoin reserve has increased after a state in the US proposed a strategic Bitcoin reserve bill. Last week, shortly after the introduction of the "Pennsylvania Bitcoin Reserve Bill," the price of Bitcoin rose. The bill aims to allow the state to invest 10% of certain funds, including ordinary funds, rainy day funds, and national investment funds, in Bitcoin. According to the state's 2023 Department of Finance annual investment report, these funds collectively manage assets worth approximately $51 billion, so a 10% allocation would represent approximately $5.1 billion in Bitcoin investment.
Previously, US Senator Cynthia Lummis proposed the "Bitcoin Bill," which suggested creating a strategic Bitcoin reserve in the US and requiring the purchase of up to 200,000 Bitcoins per year within five years. If either of these bills is approved and becomes law, initially up to $23.3 billion worth of Bitcoin may be purchased on the public market. Approval of either of these bills would have a significant impact on other sovereign investment portfolios and spark discussions among the world's largest asset management companies about Bitcoin allocation. In the coming months, the US strategic reserve may be at the center of most Bitcoin-related discussions.
I remember it was like this when I was a kid, are there any similar ones? Please raise your hand🙋♂️.
I'm saying my piece in the #futureofsocial by signing the @t2world.lens manifesto. Which values do you support?