Texas House passes strategic Bitcoin reserve bill
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The Texas House of Representatives has passed SB 21, a bill proposing the creation of a strategic Bitcoin reserve managed by the state’s comptroller. The bill passed with a **101-42 vote** and will now be sent to Governor Greg Abbott for approval or veto. If signed, Texas would become the second U.S. state to establish a cryptocurrency reserve, following New Hampshire.
The legislation allows the comptroller to invest in cryptocurrencies with a market cap over $500 billion in the past 12 months, currently only applicable to Bitcoin.
Governor Abbott has previously expressed support for cryptocurrency, calling Texas the “home of crypto mining” and advocating for it to become the “crypto capital.” However, similar bills in other states have faced opposition due to concerns about cryptocurrency volatility.
submitted by /u/CriticalCobraz
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