
The Louisiana House of Representatives has passed a bill commending Bitcoin and its pseudonymous creator Satoshi Nakamoto for "contributing to ecomic security."
It 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 twenty-one million bitcoins
allowed to be produced.Gold Is Beating Bitcoin, But Pompliano Calls It 'Disastrous Investment'$19 Billion Crypto Liquidation: Dogecoin Founder Breaks Silence, XRP Drops Out of Top 3, Ripple CEO Predicts Financial Shake-Up — Top Weekly Crypto NewsBTC and ETH Rally as $257 Million Worth of Shorts Get LiquidatedMichael Saylor Breaks Silence Amid $20 Billion Bitcoin Bloodbath: 'Don't Stop Believin'
The bill also mentions that Bitcoin is the very first decentralized trillion-dollar asset, which protects people from currency debasement around the world.
Lousiana lawmakers encourage state and local governments to consider ways to benefit from the new technology.
Southern U.S. states are now getting ahead of the curve in terms of Bitcoin adoption. As reported by U.Today, Jackson, the eighth biggest city in Tennessee, is planning to add Bitcoin to its balance sheet.