Texas has become the first U.S. state to allocate public funds for a dedicated Bitcoin reserve, committing $10 million through Senate Bill 21.
The initiative, championed by Governor Greg Abbott and State Senator Charles Schwertner, underscores Texas’s proactive approach to digital currencies and aims to boost institutional adoption.
A key stipulation requires Bitcoin’s market capitalization to exceed $500 billion before funds are deployed, ensuring stability and market maturity.
This landmark move positions Texas as a potential model for other states considering similar public-sector cryptocurrency reserves.
Industry experts, including Lee Bratcher of the Texas Blockchain Council, view the state-run reserve as a significant step towards integrating digital assets into public financial strategy.