Texas has become the first state of the United States to create a bitcoin of public and independent funds
Reserve after governor Greg Abbott signed bill 21 of the Senate during the weekend. The bill orders the State to establish a Bitcoin reserve managed regardless of the main treasure, joining a small but growing group of states that explore digital asset reserves.
Unlike Arizona and New Hampshire, who approved similar legislation, Texas not only authorized the reserve, but is actively financed. The State will be assigned to $ 10 million to buy bitcoin for the reservation.
The purchase “represents only 0.0004% of the state budget, but could create a huge impact when sending the signal to investors and businessmen like Texas understands that the future of finance is digital,” said Lee Bratcher, president of the Blockchain Council of Texas, to Coinsek.
The news occurs months after the Trump administration announced the creation of a national cryptography reserve, although this vehicle must be strictly neutrally neutral in the budget, as through the seizures of cryptographic assets or broadcasting cryptographic bonds.
Abbott also signed Bill HB 4488, a complementary measure that protects the Bitcoin reserve from the ‘funds’ routine to the general income of the State.
The legislation marks a change in how states can begin to treat digital assets, not only as speculative tools, but as sovereign financial instruments that are worth maintaining in the long term.
