TexasThe first Bitcoin financed by public resources by realizing a first in the United States $105,439.51 He set up his reserve. Governor Greg Abbott, last weekend Senate Bill 21 LawHe approved the state to buy Bitcoin by separating $ 10 million. Unlike other states such as Arizona and New Hampshire, but other states that do not devote funds, Texas showed his serious interest in crypto currencies with this move.
Structure of Bitcoin reserve founded by Texas
The new law will be governed independently of Texas’s main treasure. Bitcoin reserve ordered to be created. The reserve will be managed by the state supervisor under the guidance of a three -member crypto money advisory committee. The fund will be enlarged through direct purchases, as well as forking (fork), airdrop, earnings or public donations. A detailed report on the reserve will be published every two years.
Considering the size of Texas, the budget of $ 10 million is quite small. This amount corresponds to only 0,0004 percent of the total budget of the state. However crypto currency Experts and analysts agree that this is an important step. President of Texas Blockchain Council Lee BratcherHe emphasizes that the decision gives a strong signal that Texas is ready to be a leader in the financial future. In addition, the reserve can only be included in crypto currencies over $ 500 billion. For now, this threshold is currently only welcoming Bitcoin.
RESERVE LEGAL PROTECTION
Governor Abbott also HB 4488 Lawni also approved. This law aims to prevent Bitcoin from being accidentally involved in the general budget during the financial restructuring of the province. In other words, Texas wants to keep the Bitcoin reserve safe and untouchable. This took place as the Trump administration’s efforts to create a national reserve through crypto currency foreclosures or bond export. The federal plan adopts a different approach rather than direct funding.
With the two approved laws, Texas clarified the crypto currency targets. This clarity removing Bitcoin from being a speculative being, USA With strong support from the states, it made it a part of the financial future of the state.
According to experts, this move of Texas may arous interest in other states that want to modernize treasury strategies. For now, Texas is the first and only state that officially includes Bitcoin in its budget. This bold step points to an important turning point of the role of crypto currencies in state finances.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
