Texas takes a historic step towards the adoption of Bitcoin with the approval of the Strategic Cryptocurrency Reserve

Texas is about to become the third state in the U.S. to establish a strategic Bitcoin reserve, following the approval of Senate Bill 21 (SB 21) by the state legislature.

According to Lee Bratcher, president of the Texas Blockchain Council, the bill allows the state to invest in Bitcoin and other cryptocurrencies with a market capitalization greater than $500 billion, and it has strong support and will likely be signed by Governor Greg Abbott, known for his support of the crypto industry.

Bratcher estimates that Texas will initially invest tens of millions of dollars in Bitcoin, a modest amount for the state economy, which is the second largest in the country.

The legislation, which creates a special fund outside of the state treasury managed by the comptroller, includes security measures such as cold storage and the possibility of involving third parties for asset management.

This move positions Texas as a leader in the adoption of digital assets, following in the footsteps of New Hampshire and Arizona, and reinforces its alignment with federal initiatives driven by President Trump to establish a national crypto reserve.

"I have personally spoken with the governor about this, and I believe he wants to see Texas leading in this regard," Bratcher told The Block. "But certainly, I won't put words in his mouth. He will make that decision at the right time."

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