Strategic Bitcoin reserve proposed in Texas House of Representatives

Texas House of Representatives Representative Giovanni Capriglione has proposed a bill that focuses on reserves of Bitcoin as a strategic asset, according to a report published by CNBC. This bill includes a plan for the state government to build up a Bitcoin reserve by accepting taxes, fees and donations in Bitcoin. According to Representative Capriglione, the goal is to strengthen the state's fiscal soundness and establish itself as a leader in Bitcoin innovation. He said that inflation is the biggest enemy of investment. Investing in Bitcoin through this bill will have a win-win effect for the country, he added. CNBC explained that this legislation could serve as a testing ground for the US Treasury potentially establishing a Bitcoin reserve at a national level.