The Louisiana House of Representatives passed a resolution praising Bitcoin and encouraging state and local governments to explore ways to use it. Clay Schexnayder signed the resolution recognizing Bitcoin for its success in becoming the first trillion dollar asset, and noted that it could potentially replace gold as a monetary reserve. Schexnayder added, “Bitcoin has proven to be a critical tool for citizens around the world to protect themselves from currency debasement.”
The Coinquistadors Take:
Louisiana didn’t do anything earth shattering here, but by recognizing that Bitcoin has value over gold as well as the FIAT system shows a progressive mindset. There is a lot of FUD being spread by investment firms, simply looking to drive down BTC’s price so that they can buy low and hit quick profits. Louisiana is not a FUDSTER but a leader in recognizing that Bitcoin has real value and is a valuable asset. Government backing is a very positive sign for Bitcoin and hopefully other states follow Louisiana’s lead!
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