Texas Leads the Way in Investing Public Money in Crypto
Texas is making big changes in how it handles its money. It’s one of the first U.S. states to want to put some of its public funds into cryptocurrency, like Bitcoin (BTC). This is a big deal because it means Texas is ready to try new things in the world of finance.
Texas’s Big Crypto Plan
The Texas Senate has passed a bill that wants to create a special fund just for cryptocurrency. This fund would be managed by the state and would include Bitcoin and other popular cryptocurrencies. The goal is to protect the state’s money from things like inflation and economic ups and downs.
How the Crypto Fund Would Work
– The fund would get money from the state legislature and also from people and companies who want to donate.
– A group of experts in crypto investing would help the state decide how to manage the fund.
– The fund would be checked by outsiders every now and then to make sure everything is fair, and the state would tell the legislature about it every two years.
Why Some People Don’t Like the Idea
Some people think that Bitcoin is too risky because its value can change a lot. One senator, Roland Gutierrez, thinks the state should use its money to help with things like education instead. But others say that using blockchain technology can make things more fair and safe.
Other States and the U.S. Government Are Also Interested
Texas isn’t the only state thinking about using cryptocurrency. Many others are considering it too, because of lobbying and because the U.S. government is interested in digital money. President Trump even wants to create a national crypto reserve.
What This Means for Texas and Beyond
Texas’s plan to create a crypto fund shows that states are ready to try new things with their money. While there are risks, using cryptocurrency could help Texas lead the way in the future of money. Now, the Texas House will decide what to do next, and everyone will be watching.
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