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.
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Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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