In a larger development, Texas state government Has officially signed a strategic Bitcoin reserve in law thus diversifying its financial investment strategy. Following this event, Texas officially became the third US state, which owned a Bitcoin Reserve Fund for five months of Pro-Crypto Donald Trump administration.
Texas to operate Treasury-independent Bitcoin Reserve
On June 20, Texas State Governor Gregg Abbot officially was adopted SB 21which suggested the formation of a strategic Bitcoin reserve in order to invest in the digital asset market. The bill, now the law and author of Senator Charles Schwertner states that the proposed Bitcoin reserve should exist outside the Treasury but still under the investment authority in the control of public accounts.
In addition, the reserve may keep bitcoin and other cryptocorate dictated by control. However, only crypto courses with an average market capitalization of $ 500 billion during a 12-month period can be logged into the reserve that effectively limits entry to Bitcoin ($ 2.07 trillion) and perhaps Ethereum (272.3 billion years) in the coming years.
At the same time, all investments in the reserve in the Treasury require permission from the legislature through the General grants or other law. However, the controller may take out Bitcoin or spend the net income from the asset sales to cover all costs involved in managing the reserve.
Beside SB 21 signed Governor Abbott as well HB 4488A separate bill that prevents the strategic Bitcoin reserve and other certain state funds from undergoing a periodic government debt fund at the same time as the reserve’s legal existence, although no bitcoin was purchased during the summer of 2026.
State Bitcoin Reserve Race
On March 6, US President Donald Trump signed a federal strategic Bitcoin reserve to teams that encourage states to explore premiere Cryptocurrency as an investment tool. As mentioned earlier, Texas is the third US state that now runs a strategic Bitcoin reserve after Arizona And New Hampshire.
According to Data from bitcoin -lawsThere are currently five other states that want to join the package with a proposed legislative proposal that is still under review. These states include Michigan, Ohio, North Carolina, Rhodes Island and Massachusetts.
At the same time, efforts in states such as Oklahoma, Florida and Georgia have met, among other things, significant setbacks, with proposed Bitcoin reserve bills that either stopped or formally repealed due to legislative or political roadblocks.
At press time, Bitcoin continues to trade at $ 102,650 after a decline of 2.74% over the past week. This negative performance emphasizes the price of asset over the past month in the midst of an intensive price correction, resulting in a 7.50% loss.
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