The Texas State Legislature has finalized the Bitcoin reserve bill, awaiting the governor's signature.

## The third state in the U.S. to hold virtual currency with the governor's signature

On May 31, the Texas State Senate adopted the committee report for Senate Bill 21 (SB21), which allows the state government to establish Bitcoin (BTC) reserves, with a vote of 24 to 7. With its adoption in both chambers, the bill is now awaiting the signature of Governor Greg Abbott, making the realization of Texas as the third state in the nation to hold Bitcoin, following New Hampshire and Arizona, more certain.

SB21 aims to establish the "Texas Strategic Bitcoin Reserve," which allows state investment in virtual currencies with a market capitalization of over $500 billion. The reserve will be managed by the state comptroller, and the Strategic Bitcoin Reserve Advisory Committee will be responsible for operational guidance.

The initial investment amount is expected to be in the hundreds of millions of dollars, and the timing and amount of the purchase will be determined based on proven investment criteria.

Texas, with one of the largest economies in the world, is known for its friendly environment towards virtual currencies and is an important state where numerous Bitcoin miners are based.

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