What’s up, my people! Hold on because the Lone Star State, Texas!, just made a master move that is making waves throughout the crypto universe. Imagine the thing! They became the first state in the United States to create a Bitcoin reserve with public funds. Just as you hear it!
It turns out that Governor Greg Abbott signed a law, Senate Bill 21, which not only authorizes this reserve, but has already allocated 10 million dollars to start buying Bitcoin! 🚀 This is a very serious move because, unlike other states that are just thinking about it, Texas has already put in the money and made it a reality.
Why is Texas betting everything on Bitcoin? 🤔
Well, look, this is no story; it has its reason for being. The idea is that this Bitcoin reserve, which will be separate from the state's main treasury, serves as a kind of shield against inflation. Yes, that thing that takes away our purchasing power day by day! Additionally, it's a way to showcase Texas's financial power and how they are looking towards the future.
And don't think they are going to include any crypto there. Not at all! Only cryptocurrencies with a market capitalization of over 500 billion dollars can be included. Guess which one meets that requirement for now? Exactly, only Bitcoin! 👑
The thing is that this move by Texas comes just as the Donald Trump administration has been sounding the trumpet about having a national cryptocurrency reserve. It seems that Trump's pro-crypto spirit is infecting the states, and Texas was the first to dive in headfirst!
Who is going to manage this digital bill and how are they going to fatten it up? 🧠📈
The Texas Comptroller will be in charge of managing this fund, and they won't be alone; they will have the help of an advisory committee with three experts in crypto investments! So, the thing is going to be very professional.
And it's not just about buying Bitcoin. The reserve could also grow with "forks" (when a crypto splits), "airdrops" (when tokens are given away), investment gains, or even public donations of cryptocurrencies. Every two years they will release a public report so that everyone knows how the fund is doing!
The trend that is spreading like wildfire in companies 🌐
This move by Texas is not isolated; it's part of a trend that is hitting hard! Many publicly traded companies are following in the footsteps of giants like Michael Saylor, putting Bitcoin in their treasuries as if it were pure gold.
For example, Nakamoto Holdings, the Bitcoin holding of Trump’s crypto advisor, David Bailey, raised over 51 million dollars to buy more BTC! And The Blockchain Group, a tech company from Paris, also fattened its reserves with a million-dollar Bitcoin purchase.
So, my people, it seems that Bitcoin is ceasing to be an eccentricity and is becoming a strategic asset, and Texas is very clear about it! Will we soon see more states following in their footsteps? Stay alert with this thing that is just beginning!$BTC
