Texas Mirrors Trump’s Vision, Introduces Bill To Set Up Bitcoin Reserve With 5-Year Holding Period
Posted On December 13, 2024
In a move that mirrors President-elect Donald Trump’s cryptocurrency vision, a bill proposing a strategic Bitcoin (CRYPTO: BTC) reserve was put forth in the state of Texas on Thursday.
What Happened: Texas Republican Rep. Giovanni Capriglione introduced the bill, also called the Texas Strategic Bitcoin Reserve Act, which proposed the establishment of a special fund in the state treasury to solely hold Bitcoin as a financial asset.
The bill outlined that all Bitcoins will be stored for a minimum period of five years after which they can be sold, appropriated, or converted to other assets on the directions of a comptroller.
“The legislature recognizes Bitcoin as a …
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