Texas Signs Bill to Establish Bitcoin Reserve, Set to Purchase $10 Million in BTC

Texas Governor Greg Abbott has signed Senate Bill 21, officially establishing the nation’s first state-level Bitcoin reserve backed by public funds. Texas will allocate $10 million for the purchase of Bitcoin, setting it apart from Arizona and New Hampshire, which have only authorized such reserves without providing funding. The accompanying bill, HB 4488, also stipulates that the reserve cannot be diverted for general fiscal revenue.