Texas Establishes Strategic Bitcoin Reserve with Governor’s Approval

Texas Governor Greg Abbott has signed Senate Bill 21 (SB21), officially creating the Texas Strategic Bitcoin Reserve. The new fund will hold Bitcoin as a long-term financial asset for the state, making Texas the first U.S. state to commit public funds to a dedicated Bitcoin treasury. The reserve will operate independently of the state’s general treasury system and is designed to bolster Texas’ financial resilience. According to the bill, it will also serve as a hedge against inflation. Only digital assets with a market capitalization of over $500 billion are eligible for inclusion—an exclusive criterion that, for now, only Bitcoin satisfies. Administration of the fund will fall under the Texas Comptroller of Public Accounts, with guidance from a three-member advisory committee composed of crypto investment professionals. The fund may grow not only through direct Bitcoin purchases but also through forks, airdrops, investment returns, and public donations in cryptocurrency. A detailed performance report of the reserve will be published every two years. Texas Legislation Shields Reserve from Budget Pressures To protect the reserve from being redirected for other state expenses, Governor Abbott previously signed House Bill 4488. This bill ensures the Bitcoin reserve remains insulated from the general revenue fund, safeguarding it from shifting fiscal priorities and political changes. With this legislative framework in place, Texas joins Arizona and New Hampshire as one of only three U.S. states to establish a Bitcoin reserve law. However, Texas is the first to go a step further by allocating public funds and building a separate infrastructure for managing its Bitcoin holdings. This move signals a significant leap forward in Bitcoin’s mainstream financial adoption, particularly at the government level. Public Companies Continue Expanding Bitcoin Holdings The Texas initiative aligns with a broader trend of institutional Bitcoin adoption, especially among public companies. On Friday, David Bailey-founded Nakamoto Holdings secured $51.5 million in a private equity placement to increase its BTC holdings. In Europe, Paris-listed tech firm The Blockchain Group recently added 182 BTC, worth roughly $19.6 million, to its treasury, bringing its total Bitcoin holdings to 1,653 BTC. Data from BitcoinTreasuries.NET shows that more organizations are embracing Bitcoin as a core asset, underscoring its growing role in both private and public financial strategy. The post Texas Establishes Strategic Bitcoin Reserve with Governor’s Approval appeared first on TheCoinrise.com .

Source: The Coin Rise