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International Business Times

Business

Marvie Basilan

SHOCKING: Texas bitcoin reserve bill includes 5 year mandatory hodl provision | Mind Blowing Facts

Bitcoin Texas Giovanni Capriglione Donald Trump Pennsylvania United States

A Texas lawmaker introduced a bill that will establish a state strategic Bitcoin reserve in Texas. (Credit: AFP)

KEY POINTS

If the bill passes, Texas residents will be allowed to 'voluntarily donate Bitcoin' to the reserve fund
The bill states that Texas will not be allowed to sell or convert its $BTC reserves for at least 5 years
Texas is widely recognized as a pro-crypto state and it has been attracting Bitcoin miners for years

Texas has become the second-mover in U.S. states moving toward a strategic Bitcoin reserve after Republican State Rep. Giovanni Capriglione introduced a bill to establish a BTC reserve within the Texas state treasury.

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