The Governor of Texas, one of the largest states in the U.S., has officially signed a pro-bullish bill for Bitcoin!

Texas Governor Greg Abbott officially signed House Bill 4488, which protects certain state funds from being transferred to the general revenue budget, (HB 4488). The law specifically covers assets such as Bitcoin reserves that may be held outside the state treasury.

Among the funds protected by the law are not only potential Bitcoin reserves but also other strategic funds such as the Texas Advanced Nuclear Development Fund and the Gulf Coast Protection Account. These funds will be created or restructured as independent entities either within or outside the state treasury, depending on the relevant regulations.

On the other hand, Governor Abbott has not yet made a decision regarding Senate Bill 21 (SB 21), which could pave the way for Texas to invest directly in cryptocurrencies. If SB21 becomes law, the state will be allowed to invest in crypto assets with a market value of at least 500 billion dollars. Currently, this threshold is only met by Bitcoin.

If accepted, the "Texas Strategic Bitcoin Reserve" planned to be established will now be legally protected under HB4488.

*It is not investment advice.

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