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Texas Commits to Bitcoin: First US State to Launch Official BTC Reserve Fund
In a groundbreaking move, Governor Greg Abbott has signed Senate Bill 21 into law, officially establishing the Texas Strategic Bitcoin Reserve. This monumental decision positions Texas at the forefront of crypto adoption in the United States, setting a precedent for public sector investment in decentralized currencies.
The new legislation enables Texas to treat Bitcoin as both a speculative asset and a fundamental part of its monetary policy. Despite inflation fears and economic uncertainty, the bill recognizes Bitcoin’s potential as a hedge and economic resilience instrument. Furthermore, Senate Bill 21 emphasizes that the reserve will operate independently from the state treasury, reinforcing its unique and protected status.
Notably, the law explicitly outlines restrictions on investments, stating that only digital assets with an average market cap of $500 billion or more are eligible for inclusion in the reserve. Given this criteria, Bitcoin is the sole option at present.
Source: www.cryptoninjas.net
