Texas has become the first U.S. state to establish a publicly funded bitcoin reserve, with Governor Greg Abbott signing Senate Bill 21 into law. This legislation allocates $10 million for the purchase of bitcoin, distinguishing Texas from other states like Arizona and New Hampshire, which have not provided funding for their reserves. A companion bill, HB 4488, safeguards the bitcoin reserve from being absorbed into the state's general revenue. This move reflects a shift in how states are beginning to treat digital assets, viewing them not merely as speculative investments but as valuable financial instruments to hold over the long term. The announcement follows the Trump administration's plan to introduce a national crypto reserve, though Texas' initiative is uniquely funded. The legislation affirms Texas's commitment to integrating digital assets into its financial governance and sets a precedent for other states.

Source đź”—