DALLAS, TX – December 12, 2024 – The Texas Blockchain Council today announced groundbreaking legislation that would see Bitcoin added to the state’s treasury holdings. HB 1598, authored by Chairman Giovanni Capriglione of the Texas House Pensions, Investments, and Financial Services Committee, marks a significant milestone in the advancement of digital asset adoption at the state government level.
The legislation, which represents years of careful preparation and collaboration between lawmakers and industry experts, would enable Texas—whose economy ranks as the eighth largest in the world, surpassing both Canada and Russia—to pioneer the integration of Bitcoin into state-level treasury management. No taxpayer funds will be spent on buying bitcoin in order to maximize the chances of the bill passing. The bitcoin will come from donations from Texans, US based companies, and other sources of existing state resources.
“This landmark legislation positions Texas at the forefront of digital innovation in the United States,” said Lee Bratcher, Founder and President of the Texas Blockchain Council. “We’re particularly proud of our partnership with Chairman Capriglione, who has tirelessly advocated for advancing digital asset innovation in Texas.”
