Texas Approves Bitcoin Reserve Bill, Awaits Governor’s Signature

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Texas Takes a Leap into the Digital Abyss! 💰🚀

Ah, Texas! The land of cowboys, BBQ, and now, it seems, Bitcoin! Yes, dear reader, the Lone Star State is on the brink of becoming the third U.S. state to dip its toes into the shimmering waters of state-managed Bitcoin. 🐎💻

With a resounding vote of 101-42, the House of Representatives has given a hearty thumbs-up to the Texas Strategic Bitcoin Reserve and Investment Act, affectionately known as SB 21. Now, it’s off to Governor Greg Abbott’s desk, where we can only hope he doesn’t mistake it for a menu! 🍔📜

This illustrious bill would grant the state comptroller the power to invest in Bitcoin and, perhaps, other cryptocurrencies that have managed to strut their stuff with a market cap exceeding a whopping $500 billion over the past year. Currently, Bitcoin is the only star in this digital show! 🌟

Moreover, the legislation mandates the creation of a formal Bitcoin reserve, allowing Texas to diversify its financial strategy with these digital assets. Because why not throw a little digital glitter into the mix? ✨

The bill’s proud sponsors, State Senator Charles Schwertner and House advocate Rep. Giovanni Capriglione, have framed this initiative as a bold step to secure Texas’s leadership in the realm of digital innovation. Or perhaps they just want to be the coolest kids on the blockchain! 😎

Texas’s Embrace of Bitcoin: A Love Story? 💖

If the governor gives a nod of approval, Texas will join the ranks of New Hampshire and possibly Arizona in establishing a Bitcoin reserve. However, not all states are ready to join this digital dance. 🕺💃

Governors in Arizona and Montana have recently vetoed or blocked similar proposals, citing the wild and unpredictable nature of cryptocurrency markets. Perhaps they prefer their investments a bit less… volatile? 🤷‍♂️

With a robust $2.7 trillion economy—ranking eighth globally if it were a country—Texas has already donned its crypto-friendly hat. Governor Abbott has previously shown his fondness for digital assets, even accepting Bitcoin donations for his political campaigns. Talk about a modern-day gold rush! 🏆

The bill’s passage comes at a time when Bitcoin is riding high, recently hitting a record peak above $109,000. Who knew digital coins could be so… valuable? 💸

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2025-05-21 22:54