Bitcoin

President Trump

Reserve

<ul class="wp-block-list">
 <li>Texas files a bill to establish a strategic Bitcoin reserve, investing directly in BTC for long-term economic benefits.</li>  
 <li>Texas aims to accept Bitcoin donations and secure BTC reserves, aligning with Trump's federal cryptocurrency initiatives.</li>  
 <li>The Texas Strategic Bitcoin Reserve Act highlights the state's commitment to adopting digital currencies in public agencies.</li> 
</ul>  
<p>Texas State Representative Giovanni Capriglione has <a href="https://x.com/BTC_Archive/status/1867255131688800555" rel="noopener noreferrer nofollow">introduced</a> the Texas Strategic Bitcoin Reserve Act. The bill aims to have the state invest directly in Bitcoin through its treasury. This move aligns with President-elect Donald Trump's plans for a federal Bitcoin reserve. Texas is already a major player in Bitcoin mining, making this bill a natural step forward.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/BTC_Archive/status/1867255131688800555
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-key-features-of-the-bitcoin-reserve-bill"><strong>Key Features of the Bitcoin Reserve Bill</strong></h2>  
<p>The bill seeks to allow Texas to accept Bitcoin donations from its residents. These donations would contribute to building the state’s Bitcoin reserve. The bill also calls for the state to store and manage Bitcoin for five years. This is aimed at ensuring the reserve remains secure and stable.&nbsp;</p>  
<p>Additionally, Rep. Capriglione also wants state agencies to accept other digital currencies. The state could then convert these assets into Bitcoin, strengthening its reserve. The bill includes rules for managing security, donations, and the reserve’s operations.</p>  
<h2 class="wp-block-heading" id="h-texas-as-a-bitcoin-mining-powerhouse"><strong>Texas as a Bitcoin Mining Powerhouse</strong></h2>  
<p>Texas has become a major <a href="https://cryptonewsland.com/kennedy-jr-making-u-s-the-global-bitcoin-hub-tax-free-btc-mining/" rel="noopener noreferrer nofollow">Bitcoin mining hub</a> in the United States. This bill takes advantage of the state's established position within the Bitcoin industry. By creating a Bitcoin reserve, Texas could further solidify its role in the digital currency space. The move also positions Texas as a leader in the growing national push for Bitcoin adoption.</p>  
<p>The Bitcoin reserve bill comes as President Trump pushes for a national Bitcoin reserve. His plan includes setting up a crypto advisory council to oversee this process. The&nbsp; bill aligns with these federal efforts, positioning the state as a leader in the movement.</p>  
<p>Some countries have adopted Bitcoin, for instance, El Salvador and<a href="https://cryptonewsland.com/bhutan-builds-1-billion-bitcoin-reserve-as-interest-in-digital/" rel="noopener noreferrer nofollow"> Bhutan</a>. Entities like MicroStrategy have also invested in Bitcoin as reserve currency. Nevertheless, many corporations are still reluctant about this. Microsoft has recently rejected a Bitcoin investment proposal, citing divergence on views regarding Bitcoin in the future.</p> 
<p>The post <a href="https://cryptonewsland.com/giovanni-capriglione-introduces-bill-for-texas-to-invest-in-bitcoin/" rel="noopener noreferrer nofollow">Giovanni Capriglione Introduces Bill for Texas to Invest in Bitcoin and Build State Reserve</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Giovanni Capriglione Introduces Bill for Texas to Invest in Bitcoin and Build State Reserve

Table of Contents

Crypto News Land

Other articles published on Dec 13, 2024

AICM: Redefining E-Commerce with AI and Blockchain

BlockDAG Eyes $600M Milestone As Presale Explodes: More On Litecoin Surge & Aptos Token

Crypto Biz: Binance seals USDC ties a year after BUSD exit

Best Meme Coins to Join for 2025: BTFD Presale Crushes Records While Ponke Rallies and SPX6900 Ex...

How BlackRock Bitcoin ETF Triumphs Over 50+ European ETFs Competitors

Holdstation Introduces New Hub for AI-Powered Blockchain Solutions on ZKsync, “A(i)gentFi”

Join our free newsletter for daily crypto updates!