Texas government. The strategic bitcoin reserves are signed by the law star-news.press/wp

In a major development, the Texas government officially signed a strategic reserve for bitcoin in a law and thus diversifying its financial investment strategy. In the aftermath of this event, Texas officially became the third US state with a Bitcoin backup box less than five months of the Pro-Crypto Donald Trump.

Texas to operate the independent bitcoin reserve for the cabinet

On June 20, Texas Governor Greg Abbott is officially Sunni SB 21He suggested the formation of the strategic Bitcoin reserves for the purpose of investing in the digital asset market. The draft law, which is now on the law, which was composed by Senator Charles Chounerner, states that the proposed bitcoin reserves outside the Ministry of Treasury in the state but is still under the authority to invest in the public account observer.

Moreover, the reserve is allowed to keep bitcoin and other encrypted currencies as dictated by the observer. However, only $ 500 billion in medium -value currencies can be recorded during the 12 -month period to a reserve, which effectively limits Bitcoin ($ 2.07 trillion) and possibly Ethereum ($ 272.3 billion) in the coming years.

At the same time, all reserve investments in the Ministry of Governmental Treasury require permission from the Legislative Authority through the Public credits law or another law. However, observers are allowed to withdraw bitcoin or spend net revenue from asset sales to cover all the costs involved in the reserve management.

Besides SB 21, the ruler Abbott also signed HB 4488A separate bill that prevents the strategic bitcoin reserves and other state funds from being subjected to sweeping the periodic treasury fund while ensuring the legal presence of the reserve even if no bitcoin is purchased by the summer of 2026.

Rikwin State Reserve Race

On March 6, US President Donald Trump signed the federal strategic Bitcoin Reserve in the Act of State Promotion to explore the first cryptocurrency as an investment tool. As we mentioned earlier, Texas is the third American country that now runs the Bitcoin Strategic Reserve after Arizona and New Hampsheer.

according to Data from Bitcoin lawsThere are currently five other states looking to join the package with a proposed legislative bill that is still under review. These states include Michigan, Ouhayu, North Carolina, Rhodes Island and Massachusetts.

At the same time, efforts made in states such as Oklahoma, Florida and Georgia, among other things, faced great setbacks, with bills proposed bills proposed either either stopped or officially canceled due to legislative or political road barriers.

At the time of the press, Bitcoin continues to trade at $ 102,650 after a decrease of 2.74 % last week. This negative performance emphasizes the price conflicts last month amid a thick price correction, which led to a loss of 7.50 %.

Distinctive photo of Pexels, tradingView graph

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