Louisiana passes resolution praising Bitcoin

The Louisiana House of Representatives passed a bill that “thanks bitcoin” for existing.


The law, passed by the Louisiana House of Representatives, includes a commentary on bitcoin and its legendary creator, known as Satoshi Nakamoto, for his “contribution to financial security.”


It is also mentioned that the cryptocurrency could become the new reserve item, replacing gold:


“Bitcoin, which could potentially replace gold as a monetary reserve, is limited and finite, and we also have a maximum capacity of only 21 million bitcoins allowed to be produced.”


The text of the law also states that bitcoin is the first decentralised asset of $1 trillion, which protects people from devaluation worldwide.


Lawmakers encourage the state and local governments to choose ways in which they could benefit from new technologies. The US South is making rapid moves in adopting bitcoin, with Jackson, Tennessee’s eighth largest city, planning to introduce bitcoin into its budget.