https://www.myhometowntoday.com/news/statewide/pennsylvania-statewide/pennsylvania-considering-state-bitcoin-investmentshttps://archive.is/yVt3RPennsylvania considering state Bitcoin investments(The Center Square) – With reinvigorated interest in cryptocurrency, Republican House legislators are vying to make Pennsylvania a pioneer of digital investments, a move some skeptics believe would be too great of a risk for the state’s bank accounts.Rep. Mike Cabell, R-Dallas, introduced House Bill 2664 last week, which would make Pennsylvania one of the first states to buy Bitcoin directly. The Strategic Bitcoin Reserve Act would allow the treasurer to invest up to 10% of the general fund, emergency savings account, and state investment fund in cryptocurrency.According to Cabell, investing in Bitcoin is a way to “hedge against inflation.” The cryptocurrency operates on a decentralized system called blockchain, making its value completely independent of fluctuations in the traditional market.Though it is currently riding high following Donald Trump’s win with a pro-crypto platform, Bitcoin and other cryptocurrencies have a history of volatility that some investors balk at. Trump himself said he was “not a fan” which he claimed were “based on thin air” in a 2019 tweet before changing his stance.At the time of publication, a single coin is worth $92,406.06 and has enjoyed a consistent upward trend, but the day-to-day volatility is currently about twice that of gold.There is precedent for a Bitcoin reserve at the national level. The U.S. government currently owns about 210,000 Bitcoin, which is worth over $19 billion at the time of this writing. It represents about 1% of the total Bitcoin share in the world.Cryptocurrency enthusiasts are optimistic about the coin’s future prospects under Trump.
Literally why not just buy gold?
>>489038448You don't even know what sets the market cap do you dumbass? I doubt you even know what I am saying now
>>489038222>buying the topkek
>>489038625you hope it is the top...it could be the bottom
>>489038625When buying large amounts buying the top is how you find people willing to sell huge amounts. They're planning on holding long term so unless this is the toppiest top that'll ever top, who cares?
>>489038222>>489038448Is it the states place to be "investing" the tax payers money?It seems to me that they are under budget and this is proof that tax cuts are required
>>489038585No I don't know what you're saying because it doesn't make any sense in this context.
>>489038448Compare the returns of BTC over any given time period with that of gold. There is your answer.
>>489038786by the time they start buying it will be the top>>489038867this is the macro toppiest top, we're aproaching the ultimate picotop of the crypto journey mania. There's literally no usecase for 99% of the crypto coins. Some of the projects are great though.[not the coin]t. Someone that trades crypto since 2016.
>>489038871governments have pensions and emergency funds sitting around doing nothing that could otherwise be earning interestif they weren't putting this in bitcoin it would be going to blackrock or vanguard or state street
>>489038448Because this nation is full of retarded clout chasers and dollar trappers and not even state assemblies or U.S. Congress itself are filled with people who more than occasionally read a fucking book if you want to know the truth.
>>489039000BTC is excessively volatile and has been forever.
>>489039050We're not even close to the top of this cycleAnything sub 100k is dirt cheap.
>>489039050the smart play is to buy and ride this momentum.02
>>489039130Blackrock bought $500B in bitcoin a few weeks ago. Investing in bitcoin is investing in Blackrock.
>>489039218Yet it performs very well over any length of time. Gold has some uses, but it's obsolete as a store of wealth in the digital age.I can take a billion dollars worth of bitcoin through airport security by memorizing 12 words. Can you do the same with gold?
>>489039283the ultimate top,end of the road, the end is between 120 and 140k ,or anything under 200k. Beyond that you need more allocation from big corpos and countries. something that will never happen unless trump forces them.
>>489038222I have no problem with it as long as that 900 million is taken out of Israeli aid
>>489039420jews are playing a different game, you wouldn't understand
>>489039130Buying the peak is not an emergency fundWe're back to it's time for a tax cut. The state should be struggling for money, not trying to find something else do with it
>>489039454You can take your btc digital nothings on your ledger and shove it up your ass, faggot.
if you don't have, bare minimum, 10k link by now, it's your own fault
>>489039934kek, stay poor holding boomer rocks faggot.
>>489040023Just sold the last of my chainlink this morning. Piece of shit is still down 40% from were it was earlier this year. Literally a /biz/ meme.
>>489038222>pajeet holding the bitcoin
>>489040113Retard. Just wait it out. I have 150 chainlink that's at 200% right now.
>>489040277hehehehhee i was waiting for that.
Crypto wallets are censorable.
>>489039454Bitcoin is not a store of wealth. It is fundamentally a stonk for a corporation that doesn't exist. And as with any stonk, it can't keep going up forever. At some point it has to either stabilize or crash.
>>489038887Thanks for confirming, velcro
>>489040653>Bitcoin is not a store of wealth.Please explain why.>It is fundamentally a stonk for a corporation that doesn't exist.Please explain why.>And as with any stonk, it can't keep going up forever. At some point it has to either stabilize or crash.You could say that about literally every single investment that exists. Yet investing your money is the only way to grow it.
>quick archive the thread someone mentioned crypto censorship again
>>489039218Volatility is not a problem for long term holders, we are talking about a pension fund who wants to hold this asset for 10,20,30 years. Not a day trader.And why is volatility inherently bad?
>>489041554Can you guarantee that Bitcoin will still be valuable in 30 years? It hasn't even existed for 30 years.
>>489040653No, bitcoin is a currency. The strongest currency.Money always moves from weaker currency to stronger ones, unless forbidden by governments. Everyone in South America, who can, is ditching their pasos and holding dollars, everyone in Europe, who can, is ditching the Euro and holding Francs, everyone in USA, who can, is ditching the dollar and buying BTC.
>>489041652Yes, even if bitcoin has the same market cap as gold which is on track to do and nothing else, it's worth 600-700k per count.Bitcoin is the only way to transfer large amount of wealth from different places on the planet, and the world is becoming more and more communistic with governments trying to take and tax everything.
>>489038222the top is in boys
>>489042280>the top is in boyskek, nocoiners have been saying that since $1.00.
>>489038222"Person" in the photo holding shitcoin is a pajeet.Irony? Pajeets are too retarded to understand irony.
>>489042567blehfuck
>>489040958The jew fears my meme
