Texas Approves Bitcoin Reserve Bill - A Major Step in Cryptocurrency!

The state of Texas has officially passed Bill SB21, also known as the Strategic Bitcoin Reserve Bill. This means that the Texas government can now purchase Bitcoin and hold it as a reserve, just like gold. The goal is to protect state funds from inflation and future economic issues. Texas is now one of the first U.S. states to treat Bitcoin as a long-term financial asset.

By supporting Bitcoin, Texas demonstrates its belief in the future of blockchain technology and its desire to provide people with more financial freedom. This move may also encourage other U.S. states to begin taking the same approach.

Why did the price of Bitcoin rise #BTCBreaksATH after reaching its all-time high?

Although Bitcoin recently reached its all-time high, the market suddenly dropped afterward. This surprised many traders. Here are some simple reasons for this:

Profit-taking: Many investors sold their Bitcoin after the price reached its all-time high to take profits. This selling pressure led to a price drop.

Frenzied market: The price rose very quickly, and the market became unstable. A swift correction was expected.