The Texas House of Representatives is reviewing H.B. 4258, a bill allowing the comptroller to invest up to $250 million from the Economic Stabilization Fund into bitcoin and other cryptocurrencies. Introduced by Reps. Ron Reynolds and Mihaela Plesa, the bill also permits local governments to invest $10 million in cryptocurrencies. If passed, the law would take effect on September 1, 2025. This bill is among eight related to cryptocurrency in Texas, reflecting the state's increasing interest in integrating bitcoin into its financial portfolio and potentially establishing a Strategic Bitcoin Reserve.
One of the significant aspects of H.B. 4258 is that it would allow the state's comptroller to invest funds from the Economic Stabilization Fund into bitcoin, reflecting a growing trend among states to consider crypto assets for diversification and financial stability.
The legislation, if enacted, would enable municipalities and counties to invest up to $10 million in cryptocurrencies, indicating an expansion of local government investment options and potentially increasing bitcoin's acceptance as a legitimate asset class.
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