public funds

Texas has made history by becoming the first U.S. state to establish a public-funded Bitcoin reserve, following the signing of Senate Bill 21 by Governor Greg Abbott. This initiative includes an initial investment of $10 million in Bitcoin, positioning it as a strategic asset insulated from state budget fluctuations through House Bill 4488. Texas joins Arizona and New Hampshire in exploring crypto reserves but stands out for its funding commitment. The Texas Strategic Bitcoin Reserve will be managed by the Comptroller of Public Accounts with oversight from crypto experts, focusing on financial resilience and inflation hedging. This groundbreaking move signals a significant shift towards institutional adoption of cryptocurrency in public finance, potentially influencing other states to follow suit.