Eleanor Terrett revealed that the Pennsylvania House of Representatives is introducing legislation to hold Bitcoin on its balance sheet. This shift highlights an increasing trend among states and corporations to adopt Bitcoin as a reserve asset.
The Overton window has shifted, with more entities scrambling to adopt Bitcoin as a reserve asset. This could lead to accelerated adoption across various sectors, as evidenced by the growing list of institutional investors and state initiatives.
As we approach a future where Bitcoin is increasingly viewed as a legitimate reserve asset, the implications could be vast, potentially driving up Bitcoin’s price significantly due to heightened demand. I suspect that states like Pennsylvania will inspire others to follow suit.
With 94.20% of Bitcoin’s total supply already issued and ongoing institutional interest, supply is diminishing while demand rises. This dynamic is expected to push Bitcoin's price toward $100,000 sooner than anticipated.
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