{"id":68223,"date":"2025-05-22T02:55:01","date_gmt":"2025-05-22T02:55:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=68223"},"modified":"2025-05-22T02:55:01","modified_gmt":"2025-05-22T02:55:01","slug":"texas-moves-closer-to-becoming-first-state-to-hold-bitcoin","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=68223","title":{"rendered":"Texas Moves Closer to Becoming First State to Hold Bitcoin"},"content":{"rendered":"

Top 20 Crypto to Buy in May 2025<\/a>Texas is making headlines again<\/span>, and this<\/span> time it\u2019s not about energy or barbecue.<\/span> The state\u2019s lawmakers have voted to create a strategic Bitcoin reserve, setting the stage for Texas to become the first in the U.S. <\/span>to officially hold Bitcoin as part of its financial strategy<\/span>. The bill just passed through the House, and now it\u2019s waiting on one final stamp of <\/span>approval,<\/span> Governor Greg Abbott.<\/span><\/p>\n

What\u2019s in the Bill?<\/span><\/h2>\n

The bill, known as Senate Bill 21 (SB 21)<\/a>, was approved by the Texas House of Representatives with a vote of 101 to 42. It had already passed the Senate earlier this year. <\/span>The proposal <\/span>lays out<\/span> a plan to create the Texas Bullion Depository Reserve Fund, <\/span>which would allow<\/span> the state to invest in Bitcoin and other digital assets.<\/span><\/p>\n

HISTORY: TEXAS passes Strategic Bitcoin Reserve bill SB 21 pic.twitter.com\/6oZBbHjEgA<\/a><\/p>\n

\u2014 Bitcoin Laws (@Bitcoin_Laws) May 21, 2025<\/a><\/p>\n\n

The fund would <\/span>be overseen<\/span> by the state comptroller and kept separate from Texas\u2019 <\/span>main<\/span> treasury. The idea is to build a pool of Bitcoin that could serve as a hedge during tough economic times. And it\u2019s not a <\/span>free-for-all,<\/span> the bill limits the assets to ones with a 24-month average market cap of at least $500 billion. That\u2019s a long way of saying: it\u2019s <\/span>mostly<\/span> about Bitcoin.<\/span><\/p>\n

DISCOVER:\u00a0The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/strong><\/span><\/h2>\n

How It Gets Funded<\/span><\/h2>\n

Funding for the Bitcoin reserve could come from a few different places. The state legislature could allocate money directly, and Texans themselves could contribute through private donations. <\/span>There\u2019s a catch <\/span>though, only<\/span> Texas residents would be allowed to donate.<\/span> That part was <\/span>actually<\/span> taken<\/span> out of the bill at one point, but lawmakers later put it back in.<\/span><\/p>\n

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