In Texas, Governor Greg Abbott signed Senate Bill 21 (SB21) into law, establishing the Texas Strategic Bitcoin Reserve. This makes Texas the first U.S. state to allocate public funds to a standalone Bitcoin reserve. The initiative aims to treat Bitcoin as a long-term strategic asset.
The reserve will hold Bitcoin as part of Texas's long-term financial assets, managed independently of the state's general treasury. The fund will be administered by the Texas Comptroller of Public Accounts and guided by an advisory committee. The fund may grow through direct purchases, forks, airdrops, investment gains, or public crypto donations.
As of today, Bitcoin (BTC) is trading at $99,581.00 USD, reflecting a 3.56% decrease from the previous close. The day's trading range saw a high of $103,390.00 USD and a low of $98,823.00 USD.