Texas Proposes Bitcoin Reserve to Accept Taxes and Donations in Cryptocurrency

The Texas legislature introduces a bill to establish a strategic bitcoin reserve, positioning the state as a leader in cryptocurrency innovation and fiscal resilience.

Texas State Representative Giovanni Capriglione introduced a bill to create a strategic bitcoin reserve, allowing taxes, fees, and donations to be paid in bitcoin.
The reserve would hold bitcoin for a minimum of five years, with the goal of strengthening Texas's fiscal stability and combating inflation.
Texas's initiative aligns with President-elect Donald Trump's pro-cryptocurrency stance, including calls for a national bitcoin reserve during his campaign.
The bill reflects Texas's prominent role in the cryptocurrency ecosystem, being the U.S. leader in bitcoin mining and a hub for blockchain innovation.
Similar legislation is gaining traction in other states, with Pennsylvania recently proposing its own bitcoin reserve and discussions underway in at least ten additional states.