More than a dozen states are considering implementing a fiscal policy that would have been unthinkable just a few years ago: holding a strategic Bitcoin reserve. Here’s the idea: an individual state buys a set number of Bitcoins to diversify its assets and act as a hedge against inflation.

As the Trump administration explores a U.S. cryptocurrency stockpile, two Texas bills filed this session are looking to be at the forefront of establishing a strategic bitcoin reserve for the state.

President Donald Trump ordered the creation of a digital asset working group on Thursday which, among other things, would be tasked with exploring a U.S. cryptocurrency stockpile.

Ripple leadership and Bitcoin supporters are at a standoff over what a U.S. government strategic crypto reserve should look like.

Illinois Republican John Cabello introduced a new bill to create a strategic bitcoin reserve through the state treasury, joining at least six other U.S. states exploring the option. Proponents of strategic bitcoin reserves tout their ability to offer states greater financial sovereignty and autonomy away from a central bank.