Texas Governor Officially Signs the Bill Bullish for Bitcoin

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

The funds protected by the law include not only potential Bitcoin reserves, but also other strategic funds such as the Texas Advanced Nuclear Development Fund and the Gulf Coast Conservation Account. These funds will be established or restructured as independent structures within or outside the state treasury, depending on the relevant regulations.

Meanwhile, Governor Abbott has yet to make a decision on Senate Bill 21 (SB 21), which could pave the way for Texas to directly invest in cryptocurrencies. If SB21 becomes law, the state would be allowed to invest in crypto assets with a market value of at least $500 billion. Currently, only Bitcoin meets that threshold.

If SB21 is passed, the planned “Texas Strategic Bitcoin Reserve” will now be under legal protection under HB4488.

*This is not investment advice.