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Louisiana lawmakers back bill that says Bitcoin could become a new monetary reserve

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The Louisiana House of Representatives passed a bill that praises Bitcoin and its pseudonym creator Satoshi Nakamoto for "contributing to economic security."

He states that the flagship cryptocurrency could potentially become the new reserve asset, replacing gold:

WHEREAS, Bitcoin, which could potentially replace gold as a monetary reserve, is limited and finite and there is a maximum capacity of only 21 million bitcoins allowed to be produced.

The bill also mentions that Bitcoin is the first trillion dollar decentralized asset, protecting people from currency debasement around the world.

Louisiana lawmakers encourage state and local governments to consider ways to benefit from new technology.

The southern US states are now getting ahead of the curve in terms of Bitcoin adoption. As recently reported, Jackson, the eighth largest city in Tennessee, plans to add Bitcoin to its balance sheet.



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