Texas passes Bitcoin Reserve Act, joins state-level Bitcoin reserve
On June 20, Texas Governor Gregg Abbot signed SB 21, drafted by Senator Charles Schwertner, to formally establish #比特币战略储备 for digital asset market investment.
So far, Texas has become the third state to include Bitcoin in its official reserves since the Trump administration took office, following Arizona and New Hampshire.
According to the details of the bill, #德克萨斯州 's Bitcoin reserves will adopt a unique management model. Although it operates independently of the traditional Treasury Department, it is still supervised by the Comptroller of Public Accounts. This design ensures both professionalism and transparency.
Strict standards are also set for asset selection, allowing only investments in cryptocurrencies with an average market value of more than $500 billion in the past 12 months. Currently, only Bitcoin and Ethereum meet this threshold.
It is worth noting that the bill also contains a flexible operating mechanism. The Comptroller can directly use reserve assets to pay operating costs, but transferring funds to the Treasury requires special authorization from the legislature.
This legislative move is part of a national trend. The Federal Strategic Bitcoin Reserve Act, signed by Trump in March, paved the way for states to explore cryptocurrencies as an investment tool.
According to data from Bitcoin Laws, similar proposals have entered the review stage in five states across the United States, including Michigan and Ohio, showing that the appeal of cryptocurrencies in government asset allocation is increasing. However, some states have encountered resistance in their attempts, such as Oklahoma and Florida, where proposals have stalled due to political factors.
Despite the continuous policy benefits, the Bitcoin market has been sluggish. The latest quote shows that Bitcoin is hovering at $101,850, down 4.5% in the past week and 5.6% in the month. This divergence between policy benefits and market conditions reflects the many complexities that still exist in the cryptocurrency field.
Some analysts also believe that the legalization of institutional currency holdings has a lag in the impact on the market, and short-term price fluctuations are mainly determined by liquidity and investor sentiment. But as more state governments join the ranks of currency holders, the foundation of cryptocurrency in the mainstream financial system is quietly consolidating.
