Republican State Representative Giovanni Capriglione has officially filed to create a strategic Bitcoin (BTC) reserve for Texas.<\/p>\n
According to him, the bill is meant to enhance fiscal stability while solidifying the state\u2019s leadership in digital innovation.<\/p>\n
Capriglione announced<\/a> the proposed Texas Strategic Bitcoin Reserve Act (H.B. No. 1598) during an X Spaces event on Thursday, where he shared the document <\/a>highlighting BTC\u2019s decentralized nature, finite supply, and potential as a strategic asset to strengthen the state\u2019s financial stability and resilience.<\/p>\n The legislator believes the initiative will combat inflation and offer a hedge against economic volatility. He described the reserve as a \u201cwin-win\u201d investment that would foster innovation while providing a broad framework for managing cryptocurrency holdings.<\/p>\n The Act suggests creating a Bitcoin reserve within the Texas state treasury, managed as a special fund outside the general revenue fund under the state comptroller\u2019s supervision. If approved, it will allow area residents to pay taxes and fees and make donations in cryptocurrency, with the holdings retained for at least five years.<\/p>\n The framework also enables residents to contribute Bitcoin to the reserve, emphasizing public participation in the state\u2019s financial innovation.<\/p>\n A two-thirds majority in both legislative houses will enable the bill\u2019s provisions to take effect immediately; otherwise, it will become applicable on September 1, 2025. Additionally, the law will expire on September 1, 2035, unless extended by future amendments.<\/p>\n Capriglione\u2019s proposal is part of a growing movement across the United States to adopt Bitcoin. Representative Mike Cabell recently introduced a similar bill in Pennsylvania, which would permit up to 10% of the state\u2019s funds to be invested in the largest digital asset.<\/p>\n In a November 12 memo<\/a>, Cabell highlighted BTC\u2019s potential use as a protection against inflation, citing its adoption by financial firms and governments.<\/p>\n \u201cIn recent years, many financial institutions and sovereign governments, including the United States, have invested in Bitcoin to shield their portfolios from economic volatility,\u201d he said.<\/p>\n The lawmaker\u2019s motion followed Pennsylvania\u2019s passage<\/a> of a \u201cBitcoin rights bill\u201d and mirrors broader legislative efforts nationwide. Other jurisdictions, including Oklahoma, Louisiana, Montana, and Arkansas, have passed laws protecting crypto mining and self-custody rights.<\/p>\n The momentum also aligns with President-elect Donald Trump\u2019s favorable stance on virtual currency. His promise to establish a Bitcoin stockpile in the United States, made on the campaign trail while soliciting the crypto community\u2019s votes, was recently reiterated<\/a> by Wyoming Senator Cynthia Lummis.<\/p>\n On November 6, she declared her intention to push for the passing of the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, which would ensure the U.S. Treasury bought 1 million BTC over five years.<\/p>\n The post Texas Lawmaker Files Bill to Establish Strategic Bitcoin Reserve<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Republican State Representative Giovanni Capriglione has officially filed to create a strategic Bitcoin (BTC) reserve for Texas. According to him, the bill is meant to enhance fiscal stability while solidifying the state\u2019s leadership in digital innovation. The Proposed Legislation Capriglione announced the proposed Texas Strategic Bitcoin Reserve Act (H.B. No. 1598) during an X Spaces […]<\/p>\n","protected":false},"author":0,"featured_media":28498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28497"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28497"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/28498"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Texas Moves Ahead as States Embrace Bitcoin Integration<\/h2>\n