Pennsylvania lawmakers have introduced the Pennsylvania Bitcoin Strategic Reserve Act, which would allow the state treasury to hold Bitcoin on its balance sheet.
The legislation aims to allocate up to 10% of the state's funds into Bitcoin as a hedge against inflation and to diversify investments.
Pennsylvania's House recently passed a Bitcoin Rights bill, protecting residents' rights to self-custody digital assets and use Bitcoin for payments.
If enacted, Pennsylvania would be the first state to hold Bitcoin directly on its balance sheet, potentially leading to broader adoption of digital assets in state investment strategies.