Pennsylvania State Representative Mike Cabell has introduced legislation to allow the state's treasury to invest up to 10% of its funds in Bitcoin. The bill aims to protect against inflation and offer stability in uncertain economic times. If passed, it would allow investments from the State General Fund, the Rainy Day Fund, and the State Investment Fund in Bitcoin. Representative Cabell cited major investment firms like BlackRock and Fidelity that have turned to Bitcoin to shield their portfolios from economic volatility. The bill appears to be modeled after proposals from the Satoshi Action Fund, a Bitcoin advocacy group. Currently, the Pennsylvania Treasury has over $9.7 billion in its General Fund and approximately $7 billion in its Rainy Day Fund. The legislation was introduced in the House on November 13, and its passage remains uncertain.

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