Texas has become the largest state to create a bitcoin reserve under legislation signed by Gov. Greg Abbott.
The measure (S.B. 21) creates a fund to receive state investments in the future as part of wider efforts to make Texas a tech innovation hub and to cultivate the cryptocurrency sector.
New Hampshire in May became the first state to authorize such investments. On the federal level, President Donald Trump created a national Bitcoin reserve in March through an executive order.
State officials will likely be cautious in investing cryptocurrency markets, according to analysts. Abbott’s approval of the Texas ...