In the past week, although the focus was still on geopolitical conflicts, it did not affect Texas Governor Greg Abbott signing the Bitcoin Reserve Bill SB 21 into law.
Moreover, the Texas bill is completely different from the other two states and is the most helpful to investor sentiment. Texas will allocate $10 million to purchase $BTC as the initial capital of the reserve fund. It also established an independent management structure and advisory committee, emphasizing transparency and legal protection.
In contrast, although Arizona and New Hampshire have also passed relevant legislation, their measures in terms of capital investment, management structure and transparency are relatively limited.
However, there are also disadvantages. Texas has only approved a purchase of $10 million and has not issued a bill to continue to add. If you want to continue to add after the purchase of $10 million, you need to go through new legislation. Although it is not perfect, it is also a historic progress.
In the United States, it is no longer just the president who is interested in cryptocurrencies. Strategic reserves in various states are also being established. This is likely to be the main reason why most investors are reluctant to leave.
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