Texas Governor Greg Abbott approved the SB 21 law, which allows the creation of an autonomous $BTC Bitcoin reserve.
According to the text of the document, the reserve operates independently of Texas's overall treasury system and is intended to strengthen the financial stability of the state while also serving as a potential tool for protection against inflation.
The initiative will be managed by State Comptroller Glenn Hegar. The law permits the inclusion of digital assets with a capitalization above $500 billion in the fund, but currently, only Bitcoin meets this criterion.
In addition to direct purchases, the reserve may grow through forks, airdrops, investment gains, or public donations. A report detailing the results is planned to be released every two years.
The governor also signed HB 4488, which protects elected funds from being transferred to the state treasury's general revenue when priorities change.
Meanwhile, Abbott approved another 600 different bills. However, SB 21 was not included in the press release with the most important approved initiatives.
Texas became the third U.S. state alongside Arizona and New Hampshire,
