Texas Makes History with Bitcoin Reserve
Texas Governor Greg Abbott signed Senate Bill 21 (SB21), creating the Texas Strategic Bitcoin Reserve. This makes Texas the first U.S. state to dedicate public funds to a standalone Bitcoin reserve. The move represents a major step in government adoption of cryptocurrency.
Building Financial Strength with Bitcoin
The Texas Strategic Bitcoin Reserve will hold Bitcoin as a long-term asset. It aims to strengthen the state’s finances and protect against inflation. The Texas Comptroller of Public Accounts will manage the reserve, which only includes assets worth over $500 billion – currently just Bitcoin.
Key Features
- Managed by Texas Comptroller of Public Accounts
- Advised by crypto investment experts
- $500 billion minimum market cap requirement
- Accepts Bitcoin through purchases, forks and donations
- Regular transparency reports
Legal Protection for the Reserve
House Bill 4488 protects the reserve from being merged into Texas’s general budget. While Arizona and New Hampshire have similar laws, Texas is the first to use public money for Bitcoin.
Growing Corporate Bitcoin Adoption
Public companies like Nakamoto Holdings and The Blockchain Group are increasingly adding Bitcoin to their reserves. This trend mirrors Texas’s forward-thinking approach to cryptocurrency.
