---
title: "Texas lawmaker proposes establishing a strategic Bitcoin reserve"
description: "According to CNBC, Texas Republican state legislator Giovanni Capriglione introduced legislation on Thursday aimed at establishing a strategic Bitcoin reserve. The bill would allow the state to collec"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/222190437.md"
published_at: "2024-12-12T17:33:32.000Z"
---

# Texas lawmaker proposes establishing a strategic Bitcoin reserve

> According to CNBC, Texas Republican state legislator Giovanni Capriglione introduced legislation on Thursday aimed at establishing a strategic Bitcoin reserve. The bill would allow the state to collect taxes, fees, and donations in the form of Bitcoin and hold these Bitcoins for at least five years. Giovanni described it as a hedge against inflation. The proposal did not detail plans for directly purchasing Bitcoin. Texas is the region with the highest concentration of Bitcoin miners in the United States. The legislation aims to encourage miners to use digital assets to pay taxes. Giovanni stated that his goal is to make the bill as broad as possible. The first step is to provide flexibility and options, but if there is support from other legislators, the bill could become stronger. Through this initiative, Texas hopes not only to attract more Bitcoin-related businesses but also to explore the role of digital currency in the future economy

On December 13th, Jin Shi Data reported that Giovanni Capriglione, a Republican state legislator from Texas, proposed legislation on Thursday aimed at establishing a strategic Bitcoin reserve. The bill would allow the state to collect taxes, fees, and donations in the form of Bitcoin and hold these Bitcoins for at least five years. Giovanni described it as a hedge against inflation. The proposal did not detail plans for directly purchasing Bitcoin. Texas is the region with the highest concentration of Bitcoin miners in the United States. The legislation aims to encourage miners to use digital assets to pay taxes. Giovanni stated that his goal is to make the bill as broad as possible. The first step is to provide flexibility and options, but if supported by other legislators, the bill could become even stronger. Through this initiative, Texas hopes not only to attract more Bitcoin-related businesses but also to explore the role of digital currency in the future economy

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.