National Cryptocurrency Reserves Gain Global Popularity

National cryptocurrency reserves managed by the state are gaining increasing momentum, although such initiatives typically consider only Bitcoin.

Last week, Pradeep Bhandari, the national spokesperson for the ruling party in India, urged the nation to launch a pilot program for a Bitcoin reserve, stating that it would be a strategic step towards economic resilience.

Texas Governor Greg Abbott recently signed a bill that officially allows the establishment of a strategic Bitcoin reserve in Texas - a state-managed fund that will hold the leading cryptocurrency as part of the state's long-term financial assets.

The two initiatives follow the major proposal made by President Trump to create a U.S. strategic Bitcoin reserve, treating Bitcoin as a national reserve asset akin to digital gold.

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