Texas recently made a multimillion-dollar bitcoin purchase, leading all states in establishing cryptocurrency as a growing component of economic policy.

The $5 million investment into the Texas Strategic Bitcoin Reserve was confirmed last week by the Comptroller’s Office, which is responsible for managing the fund.

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The development comes after Gov. Greg Abbott (R-TX) signed legislation creating the reserve in June, making Texas one of the first states in the country to establish a state-managed bitcoin reserve to purchase, hold, and oversee cryptocu

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