Texas State Rep. Proposes Bitcoin Strategic Reserve Bill

Texas State Representative Giovanni Capriglione has introduced a bill aiming to establish a Strategic Bitcoin Reserve for the state. The announcement came during a discussion on X Spaces with Dennis Porter, CEO of the Satoshi Action Fund, an organization advocating for pro-Bitcoin policies.

A Look At Texas’ Bitcoin Reserve Bill

The proposed legislation outlines several measures to integrate Bitcoin into Texas’s financial framework. If enacted, the state would acquire and securely store Bitcoin in cold wallets for a minimum of five years. It also allows Texans to contribute to the reserve by donating BTC. Transparency measures, such as annual audits and public reports, are included in the bill to ensure accountability.

Additionally, the proposal would enable state agencies to accept cryptocurrencies, with a provision to convert them to BTC. It also calls for the establishment of detailed rules governing security, donations, and the management of the reserve. “This Act takes effect immediately if it receives a vote of two-thirds of all members elected to each house,” the bill specifies. Should it fail to meet this threshold, it will be implemented on September 1, 2025.

Lee Bratcher, President of the Texas Blockchain Council, highlighted the bill’s significance, saying, “Chairman Capriglione is the Chair of the Texas Pensions, Investments, and Financial Services Committee, so this bill has legs!” He also clarified that the initiative would not use taxpayer funds.

This state-level effort aligns with broader trends in Bitcoin adoption. Earlier this year, a federal Strategic Bitcoin Reserve bill was introduced by President-elect Donald Trump and Senator Cynthia Lummis.

The concept has spurred legislative actions in other states, such as Pennsylvania, and internationally in countries like Russia and Brazil. Moreover, Capriglione’s proposal reflects the growing momentum behind Bitcoin adoption at multiple levels of governance.

Also Read: US Bitcoin Spot ETFs Surpass 500,000 BTC, Holding Over 2.5% of Total Supply