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Texas Signs Bill to Establish Bitcoin Reserve, Prepares to Buy $10 Million in Bitcoin

Summary: According to Coindesk, Texas Governor Greg Abbott has signed Senate Bill 21, officially establishing the first state-level Bitcoin reserve in the United States supported by public funds. Texas will allocate $10 million to purchase Bitcoin, distinguishing itself from Arizona and New Hampshire, which only authorized but did not fund similar initiatives. The accompanying bill HB ...

According to Coindesk, Texas Governor Greg Abbott has signed Senate Bill 21, officially establishing the first state-level Bitcoin reserve in the United States supported by public funds. Texas will allocate $10 million to purchase Bitcoin, distinguishing itself from Arizona and New Hampshire, which only authorized but did not fund similar initiatives. The accompanying bill HB 4488 also stipulates that this reserve cannot be used for general revenue purposes.

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