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#MarketMajorComeback #MicroStrategyVsNasdaq #BTCNextDirection? Legislation was introduced in the Texas House of Representatives on Thursday to establish a strategic bitcoin reserve, which could serve as a proving ground for the U.S. Treasury. The proposed bill would enable the state to start building a strategic bitcoin reserve by accepting taxes, fees and donations in bitcoin that would be held for a minimum of five years, Republican state Rep. Giovanni Capriglione announced on an X Spaces event Thursday. The Texas bill aims to provide a way to strengthen the state's fiscal stability and establish it as a leader in bitcoin innovation, according to the Satoshi Action Fund, a nonprofit bitcoin advocacy group that worked with Capriglione on the bill. "Probably the biggest enemy of our investments is inflation," Capriglione said. "A strategic bitcoin reserve, investing in bitcoin, would be a win-win for the state." "I just filed the bill ... entitled 'An act relating to the establishment of a bitcoin reserve within the state treasury of Texas and the management of cryptocurrencies by governmental entities,'" he said later. Texas is not only the second-largest economy in the U.S. and the eighth-largest in the world, it also has the highest concentration of bitcoin miners in the country. The hope is that some of them will begin paying their taxes in cryptocurrency. The initial proposal does not include a direct bitcoin purchasing strategy. "My goal is to make this bill as big and as broad as possible," Capriglione said. "This initial step is to allow some optionality and flexibility on it, but if I am able to get support from other legislators, we will make it even stronger." The drumbeat for a national strategic bitcoin reserve – one of President-elect Donald Trump's crypto-friendly campaign promises – has grown louder since the election. Bitcoin has rallied more than 45% as hopeful investors bet the establishment of one will further boost its price. $BTC

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Your Crypto 2024 Roadmap🔥 #BTCBefore2025 #BTC #ETH $BTC $ETH $SOL

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