Texas has officially established a Bitcoin reserve fund, becoming the first U.S. state to own a government-managed cryptocurrency fund. According to Odaily, the Texas Senate recently passed SB 21 to implement this initiative, marking a significant milestone in the development of digital assets.
Governor Dan Patrick emphasized that this initiative not only reinforces Texas' leadership in the cryptocurrency revolution but also aligns with former President Donald Trump’s vision of making the U.S. a global financial hub for blockchain technology.
Under the plan, the reserve fund will hold BTC along with other top cryptocurrencies, with a total market capitalization exceeding $500 billion. A newly formed advisory board will oversee and guide the fund’s operations.
Beyond its state-level strategic significance, this development could have a profound impact on national cryptocurrency policies, paving the way for a clearer regulatory framework for digital assets in the U.S.