Texas Introduces Legislation To Establish A Strategic Bitcoin Reserve

The Texas House of Representatives introduced legislation to establish a strategic Bitcoin reserve that could act as a proving ground for the US Treasury. 

Texas Representative Giovanni Capriglione introduced the legislation at a time when BTC is attracting significant attention. 

Texas To Establish Bitcoin Reserve?

The Texas House of Representatives introduced legislation to establish a strategic Bitcoin reserve, a move that mirrors efforts on the national level. The proposed bill, H.B. No. 1598, was introduced by Texas State Representative Giovanni Capriglione and aims to build a strategic supply of Bitcoin (BTC) for the state with funds held for at least five years without being sold. Citizens w

Dennis Porter, the founder of the Satoshi Action Fund, confirmed the bill had been introduced in an X space. Texas is one of ten states exploring creating a strategic Bitcoin reserve. Porter believes the passing of legislation at the state level is key for establishing a federal Bitcoin reserve.

“I can confirm that the state of Texas has filed a bill to officially establish a ‘Strategic Bitcoin Reserve’. History was made as this was the first time a bill was filed live on X Spaces. Congrats to @VoteGiovanni for his leadership on Bitcoin.”