Bitcoin in the state budget? Texas House backs crypto reserve plan
Texas could soon become one of the first states to incorporate cryptocurrency like Bitcoin into its financial strategy after the Texas House on Wednesday advanced a bill that would create a state-managed crypto reserve.
Senate Bill 21, introduced by Republican Sen. Charles Schwertner of Georgetown, would authorize the state comptroller to buy and manage cryptocurrency in addition to more traditional investments. The reserve would be funded through state-budget allocations and donations from private citizens and corporations. The House passed the measure on a vote 101 to 42.
“This reserve not only strengthens our fiscal sovereignty, but positions Texas as a forward-thinking state prepared for the…
