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COINTURK NEWS > Bitcoin (BTC) > Texas Commits Boldly with First Publicly Funded Bitcoin Reserve
Bitcoin (BTC)

Texas Commits Boldly with First Publicly Funded Bitcoin Reserve

In Brief

  • Texas becomes the first state with a publicly funded Bitcoin reserve.

  • Governor Abbott authorized $10 million for Bitcoin acquisition.

  • Texas aims to lead in financial innovation and modernize state treasury strategies.

Fatih Uçar
Fatih Uçar 5 days ago
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Texas has taken a pioneering step in the United States by establishing the first publicly funded Bitcoin $107,411 reserve. Governor Greg Abbott approved Senate Bill 21 over the weekend, authorizing the allocation of $10 million from the state’s budget to acquire Bitcoin. Unlike Arizona and New Hampshire, which have passed similar laws but have not allocated funds, Texas has demonstrated its significant interest in cryptocurrencies with this concrete action.

Contents
The Structure of Texas’s Bitcoin ReserveLegal Protection for the Reserve

The Structure of Texas’s Bitcoin Reserve

The new law mandates the creation of a Bitcoin reserve that will be managed independently of Texas’s main treasury. A three-member cryptocurrency advisory committee will guide the state comptroller in managing the reserve. The fund can grow through direct purchases, forks, airdrops, earnings, or public donations. Detailed reports regarding the reserve will be published biannually.

Senato Bill 21 Bitcoin Yasasi

Though the $10 million budget is relatively small considering Texas’s size, making up only 0.0004% of the state’s total budget, crypto experts consider it a significant forward step. Lee Bratcher, President of Texas Blockchain Council, believes this decision sends a strong signal that Texas is poised to lead financially in the future. The reserve will only include cryptocurrencies with a market cap exceeding $500 billion, which currently only includes Bitcoin.

Legal Protection for the Reserve

Governor Abbott also approved HB 4488, legislation designed to prevent the state’s Bitcoin from inadvertently being included in the general budget during financial restructuring. This measure aims to keep Texas’s Bitcoin reserve secure and untouchable. This action comes amidst the Trump administration’s efforts to create a national reserve through crypto seizures or bond issuances, opting for an approach other than direct funding.

With the approval of these two laws, Texas has clarified its cryptocurrency goals. This clarity moves Bitcoin from being a speculative asset to becoming an integral part of the state’s financial future, supported by significant backing from U.S. states.

Experts suggest that Texas’s move may attract interest from other states looking to modernize their treasury strategies. For now, Texas stands as the first and only state to officially incorporate Bitcoin into its budget. This bold move marks a significant milestone in the role of cryptocurrencies within state finance.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 24 June, 2025 - 1:16 pm 24 June, 2025 - 1:16 pm
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