Texas "Bitcoin Reserve Fund" to hold cryptocurrencies with a market capitalization of at least $500 billion

PANews March 9th news, according to Bitcoin.com, Texas, USA will create a state-managed fund to hold Bitcoin and other cryptocurrencies. The Texas auditor general will oversee the reserve, which will hold a market capitalization of at least $500 billion and qualify for state budget appropriations. In addition, a Strategic Bitcoin Reserve Advisory Committee was established to provide guidance for the management of the fund and requires reports on its holdings to be submitted every two years.

Previous news , the Texas Senate passed the SB 21 bill, which would allow the state to invest some public funds into digital assets, especially Bitcoin. The bill still needs to be approved by the House and signed by the governor before it can become law.