My people, put on your boots and hat because something big is cooking in Texas! 🌵🔥 This Sunday, June 22, is the key date for the future of digital currency in the Lone Star State. Governor Greg Abbott has to decide whether to give the green light or put a resounding "NO" to a bill that wants to create a state bitcoin reserve! Just as you hear it, a treasury with pure BTC! 🤯
The situation is serious: if the governor doesn't say a word before this Sunday, the law is automatically approved! It's like a "yes" by default, without having to lift a finger! 🤫 The project, known as SB 21, proposes that the state have its own "crypto vault," and the first and only asset they want to store is none other than Bitcoin! 🚀 Why? Because BTC is abundant in the market, with more than 500 billion dollars, it's crazy! 🤑
Senator Charles Schwertner was the one who pushed this initiative, which would give the Comptroller of Public Accounts the authority to buy, store, and manage BTC. And watch out, they don't rule out adding other cryptos to the reserve in the future! It's like opening an appetite for more! 🤤 If the law passes, the Comptroller has until January 2026 to deliver a detailed report.
And hold on because Texas would join the select club of states that already have their bitcoin reserve! They would be the third state in the USA, following the footsteps of New Hampshire and Arizona! 🗺️ So you know, the South is getting spicy with cryptocurrencies.
In addition, the project aims to create an Advisory Committee full of crypto experts, to manage the reserve properly! And to avoid any surprises, they will use qualified custodians and cold storage systems, to keep the bitcoins safer than in Fort Knox! 🔒🥶
Although nothing is official yet, people are already betting that Governor Abbott will let the law pass. And it's because he has become a fan of cryptos! He has said that Texas is the "home of cryptocurrency mining" and that he wants the state to be the "capital of the sector" in the United States. This guy is on fire with the topic! 🔥
As you know, the SB 21 project was approved at the end of May by the House of Representatives, so it is now on the governor's desk waiting for his final verdict. But don't think everything has been smooth sailing in other states. In Wyoming and Montana, for example, they tried something similar and were told "no way." The volatility of cryptos and the lack of knowledge among some politicians played against them. 🤷♂️
So, my dear crypto-enthusiasts, this Sunday is key for Texas and the world of Bitcoin. Stay alert because a master move is coming that could change the financial landscape of the state! 🤠$BTC
