The Texas Republican Party has submitted a bill to establish a strategic bitcoin reserve
Representative Giovanni Capriglione, Republican of Texas, has announced the introduction of legislation to create a strategic reserve of bitcoin that will serve as a testing ground for the US Treasury. The proposed bill would enable the state to begin building a strategic reserve of bitcoin, receiving taxes, fees and donations through bitcoin, which will be retained for at least five years. The bill aims to provide a way to strengthen the state's fiscal stability and make it a leader in bitcoin innovation.
Capriglione said that the biggest enemy of our investment may be inflation, creating a strategic bitcoin reserve, investing in bitcoin, it will be a win-win for the country. I just filed the bill, titled "Establishment of Bitcoin Reserve and Administration of Cryptocurrency by Government Entities within the Treasury Department of Texas". Texas is not only the second largest state in the United States by economic size, but also has the highest concentration of bitcoin miners in the United States.