Texas State Representative Proposes Bill to Stockpile Bitcoin (BTC) as Strategic Asset
JH Kim
Summary
- A Texas state representative has proposed a bill to stockpile Bitcoin as a strategic asset.
- The bill states that the state government will hold resources like taxes in the form of Bitcoin for at least five years.
- This effort aims to strengthen the government's fiscal soundness and position it as a leader in Bitcoin innovation.
Texas State Representative Giovanni Capriglione has introduced a bill focused on stockpiling Bitcoin (BTC) as a strategic asset. The bill outlines a plan for the state government to hold taxes, fees, and donations in the form of Bitcoin for at least five years as a strategic reserve.
According to CNBC on the 12th (local time), the goal is to strengthen the state's fiscal soundness and position itself as a leader in Bitcoin innovation.
He added, "The greatest enemy of investment is inflation," and stated, "Investing in Bitcoin through this bill will bring mutual benefits to the nation."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.