Summary
- The State of Texas announced the official allocation of $10 million in public funds to build a Bitcoin reserve.
- Texas declared itself as the first state among those that passed relevant legislation to actually allocate real funds.
- The Bitcoin holding will be managed separately from the state’s finances, signaling the future of digital finance to investors and entrepreneurs.
Last week, the State of Texas, which finalized the passage of its Bitcoin (BTC) reserve bill, is allocating $10 million for Bitcoin stockpiling.
According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), Texas plans to allocate $10 million in public funds for its Bitcoin holdings.
As a result, Texas has become the first state to officially set a Bitcoin holding and actually allocate funds for it. In contrast, Arizona and New Hampshire, which passed Bitcoin stockpiling bills before Texas, have not yet allocated public funds.
Lee Bratcher, president of the Texas Blockchain Council, said, "This acquisition accounts for only 0.0004% of the state budget, but it can have a huge impact by signaling to investors and entrepreneurs that the future of finance is digital."
The related holding will be managed separately from the state finances, and, in accordance with bill HB4488, the Bitcoin reserve will not be included in general revenue.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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