Texas state Senator Charles Schwertner has proposed a bill to create a strategic Bitcoin reserve, aiming to position Texas as the first state with such an initiative. The proposed Senate Bill (SB 778), announced on January 16, emphasizes Bitcoin's potential as a financial asset and invites public donations in Bitcoin. The bill recognizes Bitcoin's decentralized nature and finite supply as valuable traits that may help combat inflation and economic volatility. SB 778 includes provisions for secure storage, regular audits, and limits appropriating funds for Bitcoin purchase to 1% of general revenue. This proposal follows an earlier draft bill by Representative Giovanni Capriglione intended for the House, which also sought to establish a Bitcoin reserve. Meanwhile, other states, including Oklahoma and Pennsylvania, are considering similar legislative measures, reflecting a broader trend among states exploring Bitcoin reserves.

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