Several U.S. states are getting closer to putting public money into cryptocurrencies effort, spurred by President Donald Trump since he announced plans to do the same on a federal level. And Texas is now among the leading contenders.
On Thursday, the Texas state senate passed the so-called SB 21 bill which would allow the state to invest some of the public’s money into digital assets, specifically bitcoin (BTC).
Bitcoin, according to a statement from Texas Senator Charles Schwertner last week, “has proven itself through multiple boom and bust cycles,” making it a great reserve asset in times of a “devastating national deficit” along with “inflation and uncertainty,” as Schwertner described.
New Hampshire also passed a bill on Wednesday through a state house committee, the House Bill 302 by a 16-1 vote, that would allow the state to invest up to 5% of public funds into bitcoin as well as other precious metals. So, it’s…
