This proposed bill could potentially lead to the first state-backed Bitcoin reserve in American history.
The initiative, spearheaded by Representative Mike Cabell, proposes allocating up to 10% of state reserves to Bitcoin, though initial investments might start more conservatively at 1-5%.
What makes this particularly significant is the timing: it follows Pennsylvania’s Bitcoin Rights bill and comes amid growing concerns about inflation and financial stability.
“This work cannot be done by one lawmaker,” Cabell notes, highlighting the collaborative effort behind this ambitious plan.
The proposal isn’t occurring in isolation — according to Satoshi Action Fund’s Dennis Porter, at least ten other states are watching closely, with some already drafting similar legislation.
If approved, Pennsylvania would become a pioneer in state-level digital asset management, potentially triggering a domino effect across other states. With Governor Josh Shapiro’s administration showing openness to innovative financial strategies, this could mark the beginning of a new era in state fiscal policy.
When states start treating Bitcoin as a legitimate reserve asset, it opens doors for broader institutional adoption.
