Texas agrees to the state -funded Bitcoin Reserve with SB21 star-news.press/wp

Texas Governor Greg Abbott signed a draft Senate Law 21 (SB21), which officially authorized the establishment of the Bitcoin Strategic Reserve in Texas, a state funded by the state that will retain Bitcoin as part of the long -term financial assets of the state.

The newly created reserve is working independently of the Texas Treasury system and aims to enhance the financial flexibility of the state while working as a possible hedging against inflation, According to To the text of the bill.

Moreover, the assets of market value exceeding $ 500 billion are only eligible to be included, a threshold that is only metcoin (BTC).

The Fund will be managed by the Texas Observer of General Accounts and is guided by a consulting committee for three investment specialists.

Related Michael Celor strategy raises Bitcoin’s expectations to $ 21 million by 2046

The Texas Bitcoin Reservs can receive air donations

In addition to direct purchases, reserves may grow via thorns, air atmosphere, investment gains, or even general encryption donations. A general report will be issued in detail the Fund and Performance holdings every two years.

SB21 follows ABBOTT’s signature of the Law of Law 4488, which protects the reserve from its absorption in the state’s public revenue fund, and isolated it effectively from the transfer of budget priorities.

Texas becomes the third American state that approves the Bitcoin reserve law, as it joined Arizona and New Hampsheer. Unlike those countries, Texas is the first to commit public money and create a separate structure for bitcoin pregnant women.

Related to: Bitcoin, Stablecoin Big 2025 Market Catalysts, says VC

Public companies are applying for bitcoin

An increasing number of companies circulated to the Bitcoin as the origin of the Treasury, after an approach followed by Michael Celor’s strategy.

On Friday, Bitco Holding Nakamoto Holdings, which was founded by US President Donald Trump’s encryption, David Billy, received $ 51.5 million in new capital through a special placing in the PIPE to buy more BTC.

Last week, BLOCKCHAIN ​​GROUP, which has a Bitcoin reserves, also sought Bitcoin with the purchase of 182 BTC for about $ 19.6 million, up to its total possession to 1,653 BTC.

During the past month alone, Bitcoin institutions added to the treasury bonds, according to data from Bitcointreasuries.net, indicating a constant interest in BTC between public companies.

magazine: History suggests that Bitcoin is 330 thousand dollars, the arrival of ETF 90 % encryption: Hadler Digest, from 15 to 21 June