Texas Passes Bill to Create a Bitcoin Reserve
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On Thursday, the Texas State Senate passed the SB 21 bill, which authorizes the state to invest some public funds into digital assets, specifically targeting Bitcoin.
Texas Senator Charles Schwertner explained last week that Bitcoin, having weathered numerous boom and bust cycles, is an excellent reserve asset for managing a “devastating national deficit” alongside challenges like “inflation and uncertainty.”
Similarly, New Hampshire advanced its legislative efforts when a state house committee passed House Bill 302 on Wednesday by a 16-1 vote.
This bill proposes that the state invest up to 5% of public funds in Bitcoin and other precious metals, although it still requires additional votes to become law.
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