Texas approves creating a state-funded Bitcoin reserve to protect against inflation

From Cointelegraph

June 22, 2025 6:08:00 AM:

Texas Governor Greg Abbott signs Senate Bill 21, creating the Texas Strategic Bitcoin Reserve to hold Bitcoin as a state financial asset. The reserve, managed independently, aims to protect against inflation and requires assets with a market cap over $500 billion, currently only met by Bitcoin. The fund will be overseen by the Texas Comptroller of Public Accounts and advised by three crypto investment professionals.

The Texas Bitcoin reserve can receive airdrops, donations, and grow through forks, airdrops, and investment gains. A public report on holdings will be issued every two years. Abbott also signed House Bill 4488 protecting the reserve from being absorbed into the state’s general revenue fund, making Texas the third US state to approve a Bitcoin reserve law after Arizona and New Hampshire.

Publicly traded firms are increasingly adopting Bitcoin as a treasury asset, following Michael Saylor’s Strategy. Nakamoto Holdings secured $51.5 million for more BTC, while The Blockchain Group bought 182 BTC for $19.6 million, totaling 1,653 BTC. Data shows more organizations adding Bitcoin to their treasuries, indicating continued interest among public companies.

Read more at Cointelegraph: Texas Approves State-Funded Bitcoin Reserve With SB21