Texas Governor Greg Abbott formally authorized the Texas Strategic Bitcoin Reserve by signing Senate Bill 21. SB21 is a fund managed by Texas that holds Bitcoin as a part of long-term state financial assets.
This newly created reserve is independent of Texas’ general treasury and serves as an inflation hedge. Its goal is to increase the financial stability of Texas. according The bill text
Bitcoin currently is the only asset with a capitalization of more than $500 billion.BTC).
A committee of crypto professionals will guide the fund, which is administered by Texas Comptroller of Public Accounts.
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Texas Bitcoin Reserve can accept airdrops, donations and more
The reserve can also grow via forks and airdrops. Investment gains or public donations of crypto may be used to increase the amount. The fund will publish a report every two years detailing its holdings and results.
SB21 is a follow-up to Abbott’s signature of House Bill 448, which prevents reserves from being absorbed in the general fund. This effectively protects them from budget changes.
Texas is the third US State to adopt a Bitcoin Reserve Law. joining Arizona You can also find out more about the following: New Hampshire. Texas was the first state, though, to use public money and set up a special structure for Bitcoin.
Related: Bitcoin reserve, stablecoin regulations big 2025 market catalysts, says VC
Bitcoin adoption is dominated by public companies
Michael Saylor’s Strategy has led a growing number of public companies to adopt Bitcoin as an asset for their treasury.
David Bailey, the crypto advisor to US President Donald Trump, and founder of Nakamoto Holdings (a Bitcoin holdings company), announced on Friday that it has acquired a stake in Nakamoto Holdings. secured $51.5 million in fresh capital Buy more BTC through a private equity placement (PIPE).
In addition, The Blockchain Group of Paris listed technology company also added to its Bitcoin holdings last week. purchase of 182 BTC for about $19.6 millionIt now holds 1,653 BTC.
In the last month, there have been a number of organizations that added Bitcoin to their treasuries, according to data from BitcoinTreasuries.NET, signaling continued interest in BTC among public companies.
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Source: cointelegraph.com
