Texas Proposes Strategic Bitcoin Reserve Amidst Crypto Skepticism

Texas State Representative Giovanni Capriglione has filed a bill to establish a Strategic Bitcoin Reserve for the state, allowing Texas to buy and hold bitcoin as a strategic asset. The bill proposes securely storing the bitcoin in cold storage for at least five years, enabling residents to donate bitcoin, and ensuring transparency through annual reports and audits. It also allows state agencies to accept cryptocurrencies and convert them to bitcoin. This move follows similar initiatives in other states and countries, reflecting a growing trend towards adopting Bitcoin as a strategic reserve.