Texas Establishes $10 Million Bitcoin Reserve Following Senate Bill 21 Approval

Texas Governor Greg Abbott has signed Senate Bill 21, establishing a $10 million Bitcoin reserve for the state, making Texas the first US state with a publicly funded Bitcoin reserve.

The reserve will be managed independently from the state's main treasury.
Residents can donate Bitcoin to the reserve in addition to allocated funds for purchases.
The $10 million represents 0.0004% of Texas's budget, signaling digital finance understanding.
Other states exploring similar initiatives include Pennsylvania, Ohio, New Hampshire, and Wyoming.
The bill passed the Texas House with a 101-42 vote and the Senate with a 25-5 vote.

Arizona is considering its own strategic Bitcoin reserve, with SB 1025 allowing up to 10% of public funds for Bitcoin investments. New Hampshire has also passed legislation enabling investment in cryptocurrencies like Bitcoin, aiming for similar allocations.

New Hampshire became the first state to approve a Strategic Bitcoin Reserve bill in May, while Arizona's proposals are under reconsideration after initial rejection.