Texas Governor Greg Abbott signed Senate Bill 21 (SB21), who officially permitted the creation of the Texas Strategic Bitcoin Reserve, a state -governing fund that would hold Bitcoin as part of long -term financial state assets.
The newly established reserve operates independently of the general Texas ark system and aims to strengthen state finances as a potential fence against inflation, According to In the text of the bill.
Moreover, only properties with capitalization in the market over $ 500 billion are eligible for integration, a threshold currently identified only by Bitcoin (Btc).
The fund will be provided by the Texas Comptroller of public accounts and will be guided by an advisory committee of three crypto investment professionals.
Related Michael Saylor of Strategy raised the Bitcoin Forecast to $ 21M by 2046
Texas Bitcoin Reserve can receive airdrops and donations
In addition to direct purchases, the reserves can be grown by forks, airdrops, investment acquisitions, or even crypto public donations. A public report detailing the holdings and performance of the funds will be released every two years.
SB21 follows Abbott’s House Bill 4488, which protects the reserve from the absorbent of the state’s general funding fund, effectively thinking of it from transferring budget priorities.
Texas became the third US state to approve a Bitcoin reserve law, Join Arizona and New Hampshire. Unlike the states, however, Texas first made public funds and established a separate structure for Bitcoin handling.
Related: Bitcoin Reserve, Stablecoin Regulation Big 2025 Market Catalysts, says VC
Public companies are leading Bitcoin adoption
A rising number of publicly exchanged companies was the adoption of Bitcoin as a Treasury owner, following a approach taken by Michael Saylor’s approach.
On Friday, Bitcoin Holding Company Nakamoto Holdings, founded by US President Donald Trump’s Crypto Adviser, David Bailey, That -secure $ 51.5 million in fresh capital By a private placement in public equity (pipe) deal to buy more BTC.
Last week, the Paris technology firm also expanded the blockchain group Purchase of 182 BTC for about $ 19.6 millionbringing its total handling to 1,653 BTC.
Just in the last month only the organizations have Bitcoin added to their treasuresAccording to data from Bitcointreasuries.net, the BTC’s ongoing interest in public companies.
Magazine: History suggests Bitcoin taps of $ 330k, Crypto ETF odds hit 90%: Hodler’s Digest, June 15 – 21
