Texas state Congressman Giovanni Capriglione formally introduced a bill to create a strategic Bitcoin (BTC) reserve, becoming the fourth state in the United States to show interest in developing its own BTC treasury.
The presentation was made by Capriglione during a Space of
Texas, itself one of the largest economies in the world, is moving toward creating its own reserve in bitcoin. This interest is added to that of Florida, Pennsylvania and more recently Alabama, states that also They are geared towards creating their strategic BTC reserves.
The bill was introduced in the Texas House of Representatives, where it will have to go through a legislative process. If it is approved there, it will be debated in the Texas Senate. Then, if approved, it will be signed by the governor of Texas to enact the bill as state law.
The topic of strategic bitcoin reserves in the US is booming, inspired by President-elect Donald Trump’s promise to create a BTC reserve with the more than 200,000 bitcoin who are currently in US custody.
This has generated more open interest in this alternative, also considering the rising price of BTC, which is already trading above USD 100,000.
In addition to reserves at the nation-state level, there is also a boom among companies in different sectors that have announced the creation of their own strategic reserves. Only in November, about 11 companiesas reported by CriptoNoticias, opened their own bitcoin treasuries.
The impetus behind these reserves can be seen as a strategy to diversify states’ assets, similar to how some nations have invested in gold as a store of value. The adoption of bitcoin by Texas and other states could have significant economic and political implications, especially considering the interest of other government and corporate entities in following this trend.
The legislation, if signed into law, could boost the recognition of bitcoin not only as a speculative asset, but as a store of value, a move that could influence the overall perception of the cryptocurrencies and its integration into national and international economies.
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