Texas Approves Bitcoin Reserve Bill – A Big Step for Crypto!
The state of Texas has officially passed Bill SB21, also called the Strategic Bitcoin Reserve Bill. This means the government of Texas can now buy and hold Bitcoin as a type of reserve, just like gold. The idea is to protect the state’s money from inflation and economic problems in the future. Texas is now one of the first U.S. states to treat Bitcoin as a serious long-term financial asset.
By supporting Bitcoin, Texas is showing it believes in the future of blockchain and wants to give people more financial freedom. This move may also encourage other U.S. states to start doing the same.
Why Did the #MarketCrash After Bitcoin Hit a New All-Time High?
Even though Bitcoin recently reached a new all-time high, the market suddenly dropped afterward. This surprised many traders. Here are some simple reasons why this happened:
Profit-taking: Many investors sold their Bitcoin after the price hit a record high to lock in profits. This selling pressure caused the price to fall.
Overheated market: The price went up too fast, and the market became unstable. A quick correction was expected.
Fear of regulations: Some news reports talked about possible new government rules for crypto, which made investors nervous.
High funding rates: In futures trading, the cost to hold positions became too expensive, which led to a big wave of forced selling (liquidations).
This kind of pullback is normal in crypto. Even strong uptrends need healthy corrections before continuing upward.
Final Thoughts
Texas is making a bold move by adding Bitcoin to its financial plans. While short-term price drops can happen, the long-term support from governments like Texas shows growing trust in Bitcoin. It’s clear that crypto is slowly becoming a part of the future financial system.
ARE YOU LOSING MONEY ON BINANCE? How excessive trading harms your profits
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