Texas representative Giovanni Capriglione has proposed a new bill to create a strategic bitcoin reserve in the state of Texas to combat inflation and economic uncertainty.
“No taxpayer funds will be spent on buying bitcoin in order to maximize the chances of the bill passing,” said Lee Bratcher, president of the Texas Blockchain Council. “The bitcoin will come from donations from Texans, U.S. based companies, and other sources of existing state resources.”
Not sure too many people will be willing to donate their bitcoin.
“The state’s financial goals are why a bitcoin reserve makes sense in the eighth-largest economy in the world,” Kadan Stadelmann, Komodo Platform’s Chief Technology Officer, told TheStreet Crypto about the proposal. “Texas is looking to become a global financial powerhouse, and towards this end, it has previously made the decision to launch the Texas Stock Exchange, which opens next year in Dallas.”
(source)