The House of Texas representatives adopted in third reading a bill on the creation of a local strategic reserve in bitcoins. The bill was adopted by 101 votes against 42, and will be transferred to the governor of Texas Greg Abbott for final statement.

The authors of the bill – Senator Charles Schwertner and a member of the House of Representatives of Texas Giovanni Capriglione – suggested that the state treasury could invest in any cryptocurrency with a market capitalization above $ 500 billion in the past 12 months. Now the only cryptocurrency that meets this requirement is bitcoin.

Before voting, Caprillone said in the House of Representatives that the bill would help Texas become one of the leaders in the development of digital innovation. Having created an official reserve in bitcoins, the state treasury will be able to diversify their financial strategy using digital assets.

In early March, the bill was adopted by the Senate Texas by 25 votes against 5. If the Governor Ebbott signed this bill and does not apply a veto on it, Texas will become the second American state that will allow the creation of a reserve in cryptocurrency. This was the first to do this by New Hampshire-in May, Governor Kelly Ayotte signed a law allowing the local treasury to invest up to 5% of the state budget in Bitcoin.

Earlier, Ebbott expressed enthusiasm for cryptocurrencies. Last year, he called Texas the “homeland of mining”, expressing his readiness to make his world “cryptostostolic”. Ebbott has been taking donations in bitcoins for election campaigns for several years.

However, governors of other states are in no hurry to approve such bills. Recently, the governor of Arizona Katie Hobbs rejected two bills on a cryptocurrency reserve due to the high volatility of digital assets. In Florida, two bills on the creation of a strategic reserve in cryptocurrencies were also taken from consideration.