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What will be the outcome of the Texas Bitcoin reserve proposal by end of 2025?
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Texas•Bitcoin•Republican•Giovanni Capriglione•Donald Trump•BlackRock•Pennsylvania•Satoshi Action Fund
Resolution / Starting Odds
Passed and implemented • 25%
Passed but not implemented • 25%
Rejected • 25%
Still under consideration • 25%
Official announcements from the Texas state legislature or government websites
Story
Texas Proposes State-Managed Bitcoin Reserve, Following BlackRock's 2% Suggestion
Dec 13, 2024, 01:11 AM
Texas is taking a significant step towards integrating Bitcoin into its state financial strategy with a proposed bill for a state-managed Bitcoin reserve. Filed by Republican Rep. Giovanni Capriglione, the legislation aims to collect taxes, fees, and donations in Bitcoin, which would be held for at least five years. This initiative reflects Texas' leadership in digital innovation, especially given its high concentration of Bitcoin miners. The proposal does not allow the state to directly purchase Bitcoin but focuses on building a reserve through voluntary contributions. This move comes amidst a broader national interest in Bitcoin, with President-elect Donald Trump previously mentioning a federal Bitcoin reserve. BlackRock, the world's largest asset manager, has also suggested that a portfolio allocation of up to 2% in Bitcoin is 'reasonable' for investors, comparing it to the risk profile of mega-cap tech stocks in a traditional portfolio. Pennsylvania has introduced a similar proposal, and the Satoshi Action Fund has provided input into the Texas bill.
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Passed • 25%
Rejected • 25%
Postponed • 25%
Withdrawn • 25%
Yes • 50%
No • 50%
Passed and enacted • 25%
Passed but not enacted • 25%
Rejected • 25%
Still pending • 25%
Increase over 10% • 25%
Increase 0-10% • 25%
No significant change • 25%
Decrease • 25%
Passed • 33%
Rejected • 33%
Pending • 34%
Passed and implemented • 25%
Passed but not implemented • 25%
Rejected • 25%
Pending • 25%