BlockBeats news, on June 22, according to Bitcoin Laws, Texas Governor Greg Abbott signed the (Bitcoin Reserve Bill) SB 21, making it officially law.
Texas is now the third state to have a Bitcoin reserve.
Previously, Texas Lieutenant Governor Dan Patrick announced that the Texas Strategic Bitcoin Reserve Bill received bipartisan support, which will create a fund managed by the state government that will only invest in cryptocurrencies with an average market capitalization of at least $500 billion over the past 12 months and qualify for state budget allocations. Additionally, the bill establishes a Strategic Bitcoin Reserve Advisory Committee to provide guidance for fund management and requires a holding report to be submitted every two years.
