Second Largest US State Moves to Establish Bitcoin Reserve

Texas is taking a significant step toward embracing cryptocurrency with the proposed creation of a state-controlled Bitcoin reserve.

State Representative Giovanni Capriglione introduced the Texas Strategic Bitcoin Reserve Act, which seeks to position the state at the forefront of Bitcoin adoption in government finance.

The proposal includes plans for the state treasury to directly invest in Bitcoin, accept crypto donations, and integrate digital currencies into state operations. The reserve, to be securely managed for five years, comes with detailed provisions on storage and oversight, ensuring transparency and security.

Texas has already established itself as a major hub for Bitcoin mining, making the proposal a natural extension of its economic ties to the cryptocurrency sector. The initiative also reflects broader trends at the federal level, aligning with President-elect Donald Trump’s push for a national Bitcoin reserve.

Trump’s plans, which include forming a crypto advisory council, aim to further normalize Bitcoin as part of the United States’ financial infrastructure.