Texas Ready for $10M Bitcoin Purchase After Governor Signs Bill for State Reserve

Texas has become the first U.S. state to establish a publicly funded bitcoin reserve after Governor Greg Abbott signed Senate Bill 21 into law.

The state will allocate $10 million to purchase bitcoin, setting it apart from other states like Arizona and New Hampshire, which have not funded their reserves.

A companion bill, HB 4488, ensures the bitcoin reserve is protected from being absorbed into the state's general revenue.