Texas has officially become the third U.S. state to enact legislation establishing a public Bitcoin reserve, signified by the signing of Senate Bill 21 by Governor Greg Abbott. This new law allows the state to directly purchase, manage, and hold Bitcoin, enhancing financial resilience and serving as a hedge against inflation. The reserve fund, limited to Bitcoin due to a market cap requirement of $500 billion, will be managed by the state's comptroller with strict oversight. Texas’s Strategic Bitcoin Reserve will accumulate Bitcoin through various means, including direct purchases and donations, and adheres to high security standards for asset custody. This move is a significant step toward public investment in cryptocurrencies, reinforcing legal protections that ensure the fund's longevity. Texas's initiative, following similar actions in New Hampshire and Arizona, exemplifies the state's commitment to integrating digital assets into its financial framework, ensuring long-term operational guidelines and transparency for future transactions.

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