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Louisiana Lawmakers Back Bill That Says Bitcoin Could Potentially Become New Monetary Reserve

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Fri, 04/23/2021 - 17:33
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Alex Dovbnya
The Louisiana House of Representatives has passed a bill that basically thanks Bitcoin for existing
Louisiana Lawmakers Back Bill That Says Bitcoin Could Potentially Become New Monetary Reserve
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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.    

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

Related
Satoshi Confirmed His Departure from Bitcoin Community 10 Years Ago

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.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.