Texas approaches the creation of a Bitcoin Strategic Reserve (BTC) after a Senate bill to create one has been approved by the lower chamber.
The State House of Representatives voted in favor of the Senate bill 121 which would establish a “Texas Bitcoin Strategic Bitcoin reserve in order to invest in the cryptocurrency and the investment authority of the public accounting controller on the reserve and certain other state funds”.
The bill, which was adopted during a vote of 101 to 42 years, is now awaiting a competing vote of the Senate after the amendments of the Chamber before going to the office of governor Greg Abbott for a final panel.
Texas would become the second state to establish a strategic reserve for digital assets after New Hampshire.
An equivalent vote in Arizona has reached the governor, but was opposed to a veto by Katie Hobbs, calling Bitcoin “not tested investment”. However, it has promulgated a similar bill which allows the State to have abandoned digital assets as an unin demanded property.
