“The Lone Star State Appears As if It Will Be the First in the Us to Hold Bitcoin.”, – WRITE: www.coindesk.com
Reserve After Governor Greg abbott Senate Bill 21 Into Law Over the Weekend. The Bill Directs the State to Establish A Bitcoin Reserve Managed Independently From the Main Treasury, Joinging A Small But Growing Group of States Exploring Digital Asset Reserves.
UNLIKE ARIZONA AND NEW HAMPSHIRE, WHICH PASSED SIMILAR Legislation, Texas Did Not Just Authorize the Reserve But Is Actively Funding It. The State Will Be Appropriss $ 10 Million in Order to Purchase Bitcoin for the Reserve.
The News Comes MONTS AFTER The TRUMP ADMINISTRATION ANNUNCED The Creation of A National Crypto Reserve-Thought That Vehicle Is Supped to Be Funded In Strctoly Budget-Neutral Ways, Like Seizures or by Issuing Crypto Bonds.
Abbott Also Signed Bill HB 4488, A Companion Measure That Protects The Bitcoin Reserve from Routine ‘Fund Sweeps’ Into The State General Revenue.
The Legislation Marks A Shift in How States May Begin Treating Digital Assets-Not Just As Specialty Tools, But As Sovereign Financial Instruments Worth Holding Long-Term.
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