Republican

Bitcoin

Reserve

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/texas-moves-forward-with-bitcoin-reserve-legislation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Texas Moves Forward with Bitcoin Reserve Legislation</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-breaks-past-64000-mark" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price has recently exceeded $102,500, spurred by favorable developments in the cryptocurrency market. Influential comments from former President Trump, paired with recent inflation data, have set a positive tone for growth in this sector. Additionally, Texas has introduced promising measures that could impact the state’s financial landscape.</p>
<h2 style="text-align: justify" id="what-is-the-u-s-bitcoin-treasury-proposal">What is the U.S. Bitcoin Treasury Proposal?</h2>
<p style="text-align: justify">Earlier this year, Senator Lummis proposed that the U.S. government should amass Bitcoin, aiming for a target of one million coins within five years. This initiative has garnered backing from Trump, while Republican Representative Giovanni Capriglione introduced a bill in the Texas House designed to facilitate cryptocurrency acquisition.</p>
<h2 style="text-align: justify" id="how-will-texas-benefit-from-this-proposal">How will Texas benefit from this proposal?</h2>
<p style="text-align: justify">Capriglione emphasized that the legislation is intended to bolster the state’s financial stability. He noted, “The biggest threat to our investments is inflation. Establishing a Bitcoin reserve would be beneficial for Texas. I aim to craft a comprehensive bill entitled ‘Establishing a Bitcoin Reserve within the Texas State Treasury and Regulation of Cryptocurrencies by State Agencies.’”</p>
<p style="text-align: justify">The proposed legislation outlines that taxes, fees, and donations will be accepted in Bitcoin for a minimum of five years, facilitating the accumulation of a substantial Bitcoin reserve. Key takeaways include:</p>
<ul>
 <li>The proposed bill seeks to accumulate over one million Bitcoins.</li>
 <li>Texas aims to use Bitcoin to enhance financial security against inflation.</li>
 <li>Acceptance of Bitcoin for state transactions will be established for five years.</li>
</ul>
<p style="text-align: justify">With this legislative move, Texas positions itself as a significant player in the cryptocurrency market, potentially setting a precedent for other states to follow. The decision aligns with the growing trend of incorporating digital currencies into governmental financial strategies, promising to reshape the fiscal landscape significantly.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/texas-moves-forward-with-bitcoin-reserve-legislation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Texas Moves Forward with Bitcoin Reserve Legislation</a></h5>

Texas Moves Forward with Bitcoin Reserve Legislation

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