Texas State Rep Giovanni Capriglione has filed a Bill to establish a strategic Bitcoin Reserve, aligning with President-elect Donald Trump’s grand plans. With the concept of a Bitcoin reserve growing at the Federal level, the Bill has positioned Texas as a front-liner among other states.
Why Texas Needs a Bitcoin Strategic Reserve?
The Bill, titled Texas Strategic Bitcoin Reserve Act, seeks to push for the State’s treasury to invest directly in BTC. Already Texas ranks as a major Bitcoin mining powerhouse in the country, making its economy unfamiliar to the industry.
As described in the Bill, Bitcoin represents a Peer-2-Peer (P2P) network which operates with no central authority. The bill filing comes on the heels of President Donald Trump’s push to establish a similar BTC reserve at the Federal Level. To achieve this, he has proposed setting up a crypto advisory council to oversee the implementation.
This is a breaking news, please check back for updates!!!
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