Texas House to Hear Bill on Strategic Bitcoin Reserve with $500 Million Annual Bitcoin Purchases

The Texas House has scheduled a hearing for April 23 on a bill proposing the establishment of a Strategic Bitcoin Reserve. Under the bill, Texas plans to purchase $500 million worth of Bitcoin annually to create this reserve. This initiative reflects a growing interest in Bitcoin as a strategic asset, with similar discussions reportedly emerging in other regions such as Singapore. The hearing marks a significant step in Texas’s effort to integrate cryptocurrency into its financial strategy. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant