Texas governor signs bill adding Bitcoin to official reserves
Texas becomes the first US state to commit public funds to a standalone Bitcoin reserve, aiming to treat BTC as a long-term strategic asset.
Texas Governor Greg Abbott has signed Senate Bill 21 (SB21), officially authorizing the creation of the Texas Strategic Bitcoin Reserve, a state-managed fund that will hold Bitcoin as part of the state’s long-term financial assets.
The newly established reserve operates independently of Texas’ general treasury system and aims to strengthen the state’s financial resilience while serving as a potential hedge against inflation, according to the bill text.
Furthermore, only assets with a market capitalization exceeding $500 billion are eligible for inclusion, a threshold currently met only by Bitcoin (BTC).