States Propose Bitcoin Reserves Amid Controversy and Legal Battles

Texas State Representative Giovanni Capriglione has introduced a bill to establish a Bitcoin strategic reserve for the state, aiming to enhance financial security and innovation in digital assets. The reserve would hold Bitcoin in cold storage for at least five years, with restrictions on transactions involving foreign entities. This move aligns with broader national discussions on Bitcoin reserves, as seen with similar proposals by politicians like Senator Cynthia Lummis. The initiative reflects growing interest in Bitcoin as a store-of-value asset and potential inflation hedge.