The state of Texas may become one of the first U.S. states to adopt cryptocurrency at the institutional level: a bill has been introduced in the House.
The Texas House of Representatives has introduced a bill aimed at establishing a strategic Bitcoin reserve. The initiative, announced by Republican Representative Giovanni Capriglione during an X space, would allow the state to accept taxes, fees, and donations in Bitcoin, with the obligation to hold them for at least five years.
Capriglione stated:
“Probably the biggest enemy of our investments is inflation. A strategic bitcoin reserve, investing in bitcoin, would be a win-win for the state.”
Texas, the second-largest economy in the United States and the eighth-largest in the world, already boasts the highest concentration of Bitcoin miners in the country, making it well-positioned for this initiative. The initial plan does not involve a direct Bitcoin purchasing strategy but focuses on collecting Bitcoin through tax payments and donations.
The Texas proposal follows that of Pennsylvania, the first state to introduce a similar bill last month, and precedes possible initiatives in other states.
The initiative is part of a broader context of growing institutional interest in Bitcoin, also supported by the election promises of President-elect Donald Trump, who has announced his intention to create a national Bitcoin reserve.
