Texas Governor Shocks Nation with Bitcoin Reserve Bill SB 21 Signing!

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๐Ÿšจ Texas Goes Wild for Bitcoin! State Launches Bold New Reserve! ๐Ÿšจ

Unbelievable! Governor Greg Abbott Just Signed the Historic Senate Bill 21!

In a jaw-dropping move, Texas Governor Greg Abbott has just signed Senate Bill 21 (SB 21) into law, sending shockwaves through the crypto world! ๐Ÿค‘ With this groundbreaking legislation, the Lone Star State has officially jumped on the Bitcoin bandwagon, establishing its very own Bitcoin reserve!

Join the Bitcoin Revolution! Texas Is Now in the Game!

Texas has now joined the elite ranks of New Hampshire and Arizona as the third state in the entire nation to adopt Bitcoin as a strategic asset! Under the visionary leadership of Senator Charles Schwertner, the โ€œTexas Strategic Bitcoin Reserve Actโ€ is set to redefine state finances!

What Does This Mean? A Hedge Against Economic Chaos!

This sizzling law will empower Texas to invest in Bitcoin and other qualifying crypto assets, creating a formidable hedge against inflation and economic turmoil. The state is gearing up to bolster its financial resilience like never before!

But Waitโ€”Thereโ€™s a Catch! Only One Asset Qualifies!

Hold onto your hatsโ€”thereโ€™s a stipulation! Bitcoin must maintain an average market cap of at least $500 billion over a two-year span to be included in this prestigious reserve. Currently, Bitcoin is soaring with a whopping market valuation exceeding $2 trillion, leaving other contenders like Ethereum (valued at around $277 billion) in the dust!

Expert Advisory Committee Set to Shape the Future!

This groundbreaking legislation also authorizes the formation of a five-member advisory committee, designed to steer the reserveโ€™s management. This includes the state comptroller and seasoned crypto investment gurus, all aimed at ensuring Texas plays it smart with its digital gold!

Bill Passes with Flying Colors! Whatโ€™s Next?

The Texas Senate flashed a green light with 25 votes in favor and only 5 against! In the House, it cruised through with 9 votes for and 4 against! Mark your calendarsโ€”the law takes effect on September 1, 2025!

Governor Abbott: A True Bitcoin Champion!

The Governor has been enthusiastic about this crypto frontier, sharing his excitement on social media before officially signing on the dotted line! And letโ€™s not forget the companion bill, HB 4488, which reinforces the legal standing of the Bitcoin reserve and protects it from state budget cuts.

This is Just the Beginning! Are You Ready for the Bitcoin Boom?

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Source: USD @ Mon, 23 Jun.