Texas Goes Full Bull: Governor Greenlights $10M Bitcoin State Reserve Purchase
Texas just fired the starting gun on the next phase of crypto adoption—with politicians leading the charge for once.
Governor Greg Abbott signed legislation today authorizing a $10 million Bitcoin purchase for state reserves, making Texas the first to treat BTC like sovereign wealth. The move comes as institutional FOMO reaches fever pitch.
Wall Street analysts are already scrambling to update their "unconventional treasury assets" PowerPoint slides. Because nothing says fiscal responsibility like allocating taxpayer funds to an asset that swings 20% before lunch.
The legislation bypasses traditional procurement hurdles—apparently volatility risk assessments don't apply when you're chasing the digital gold narrative. State comptroller Glenn Hegar now has 90 days to execute the purchase, likely through a Texas-based mining operation.
Meanwhile in DC, SEC Chair Gary Gensler is probably drafting another 87-page memo about why only accredited investors should have this privilege. Too late—the Lone Star State just went full orange pill.
