Governor of State #تكساس , Greg Abbott, signed the "Reserve Law #البيتكوين ", making Texas the first U.S. state to create a Bitcoin treasury $BTC . The reserve will initially hold $500 million worth of Bitcoin, purchased through state mining revenues.
The law mandates annual contributions to the reserve using surplus funds from oil revenues and state energy revenues. It also provides tax incentives for companies conducting Bitcoin transactions.
Texas State Comptroller Glenn Hegar stated that this move enhances the financial sovereignty of the state. He remarked in the Capitol building: "We support the next phase of monetary independence".
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