Texas State Representative, Democrat Ron Reynolds, proposed a bill limiting state-level investments in Bitcoin. According to the document:
⚡ The local financial regulator is allowed to invest no more than $250 million in BTC from the economic stabilization fund.
⚡ Municipalities and counties can invest up to $10 million.
This move followed the Texas Senate's decision on March 6, when a law was approved to create a strategic BTC reserve – but without an investment volume limit.
🔹 After Donald Trump's inauguration, such initiatives emerged in 31 states across the USA.
🔹 Texas Lieutenant Governor Dan Patrick called the formation of the BTC reserve a priority.
🔹 On January 7, Trump signed an order to create a national Bitcoin reserve and a digital asset fund, which will include confiscated cryptocurrencies.
Additionally, Senator Cynthia Lummis proposed a bill to purchase 5% of the total BTC supply and create federal storage under the control of the Treasury!
⚡ The local financial regulator is allowed to invest no more than $250 million in BTC from the economic stabilization fund.
⚡ Municipalities and counties can invest up to $10 million.
This move followed the Texas Senate's decision on March 6, when a law was approved to create a strategic BTC reserve – but without an investment volume limit.
🔹 After Donald Trump's inauguration, such initiatives emerged in 31 states across the USA.
🔹 Texas Lieutenant Governor Dan Patrick called the formation of the BTC reserve a priority.
🔹 On January 7, Trump signed an order to create a national Bitcoin reserve and a digital asset fund, which will include confiscated cryptocurrencies.
Additionally, Senator Cynthia Lummis proposed a bill to purchase 5% of the total BTC supply and create federal storage under the control of the Treasury!