Texas Proposes Bitcoin Strategic Reserve
Texas State Representative Giovanni Capriglione has introduced H.B. No. 1598, a bill aimed at establishing a Bitcoin strategic reserve for the state. The proposal seeks to accumulate and hold Bitcoin for at least five years without

Strategic Bitcoin Reserve Bill just filed in Texas, live on spaces.

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[A Texas Representative has proposed a bill to create a Bitcoin Reserve Fund - Bitcoin News - Latest Coin News Updates 24/7 2024]A Texas state representative has proposed legislation to establish a Strategic Bitcoin Reserve....

Texas Representative Proposes Bill to Create Bitcoin Reserve Fund

Odaily reports that recently, Alabama State Auditor Andrew Sorrell publicly proposed establishing a Strategic Bit Reserve (SBR), based on the growing interest of federal and state policymakers in SBR, as well as the significant rise in Bit price after the election of Trump, who campaigned on a pro-Bit policy. In a media interview, Sorrell emphasized the inevitability of the long-term success of Bit and cryptocurrencies: "The debate on whether cryptocurrencies will succeed is over." He further emphasized the value of digital assets in expanding the national investment portfolio: "To date, cryptocurrencies are a $3 trillion asset class, while national investment in cryptocurrencies is zero. It is also the fastest-growing asset class with the greatest potential for price appreciation." Furthermore, he stated that the establishment of SBR has three main goals: portfolio diversification, a crypto-friendly positioning, and hedging against currency-related risks. "What if the inflation rate reaches 8% again? Bit's value is not affected by the US dollar trend, it will strengthen our nation's balance sheet and can be used as collateral for future debt issuance."

Alabama Auditor Publicly Proposes Strategic Bitcoin Reserve

Here is the English translation:

Gold has a history of over a thousand years as a global strategic reserve asset, while <BTC>, which is 15 years old, is launching a new challenge.
Author: Yuliya
What is the concept of a strategic reserve asset of 1 million <BTC>?
According to data from the World Gold Council, as of the third quarter of 2024, the total gold reserves of the Federal Reserve reached 8,133.46 tons (about $530 billion), ranking first in the world. Meanwhile, the current market value of 1 million <BTC> is close to $100 billion, accounting for about 19% of the size of the US gold reserves, which is quite...