Texas Bitcoin Bill Nears Approval, Awaiting Governor Abbott's Signature

Texas is on track to become the third U.S. state to establish a strategic Bitcoin reserve, following New Hampshire and Arizona. The Texas Blockchain Council's President, Lee Bratcher, expressed optimism about Governor Greg Abbott signing the recently passed Senate Bill 21, which will enable the creation of a Bitcoin reserve. While Bratcher refrains from predicting the governor's decision with certainty, he notes Abbott's interest in positioning Texas as a leader in this field. The state comptroller will oversee the investment, which is initially expected to range in the tens of millions of dollars, considered modest for Texas' vast economy. The initiative dates back to 2022 with the aim to secure the state's place in the booming cryptocurrency sector.