TEXAS WANTS TO BE NO. 1 among states to establish a strategic Bitcoin reserve, mirroring efforts by President Donald Trump, who has broached the idea of creating a federal reserve with the cryptocurrency. State lawmakers debated a bill (S.B. 21) Tuesday that would create a special state fund to invest in cryptocurrency and accept crypto donations.
- Bitcoin as king: Cryptocurrency bought or received by the reserve would have to have an average market capitalization of at least $500 billion, which currently only includes Bitcoin. The comptroller could contract with outside entities to manage or audit the reserve. Texas Comptroller Glenn ...