What Happened In Crypto Today

Today in crypto, Texas Governor Greg Abbott has officially authorized the creation of the Texas Strategic Bitcoin Reserve, Jan3 founder Samson Mow eyes expanding Bitcoin nation-state adoption in Europe. Meanwhile, Bitcoin holding company Nakamoto Holdings has secured $51.5 million in fresh capital to purchase more BTC.

Texas governor signs bill adding Bitcoin to official reserves

Texas Governor Greg Abbott has signed Senate Bill 21 (SB21), officially authorizing the creation of the Texas Strategic Bitcoin Reserve, a state-managed fund that will hold Bitcoin as part of the state’s long-term financial assets.

The newly established reserve operates independently of Texas’ general treasury system and aims to strengthen the state’s financial resilience while serving as a potential hedge against inflation, according to the bill text.

Furthermore, only assets with a market capitalization exceeding $500 billion are eligible for inclusion, a threshold currently met only by Bitcoin (BTC).

The fund will be administered by the Texas Comptroller of Public Accounts and guided by an advisory committee of three crypto investment professionals.

Governor Greg Abbott signs bill SB 21. Source: Texas Gov

Samson Mow wants Bitcoin in ‘all of Europe,’ receives invite to France

Jan3 founder Samson Mow is setting his sights on ramping up Bitcoin nation-state adoption in Europe following a positive meeting with pro-Bitcoin French lawmaker Sarah Knafo.

“Looking forward to starting a nation-state Bitcoin adoption wave in France and perhaps all of Europe,” Mow said in an X post on Saturday, following his meeting with Sarah Knafo, a French member of the European Parliament, at BTC Prague this week. They discussed plans to develop a Strategic Bitcoin Reserve for France and promote “friendly regulations” for the asset.

Mow said Knafo has invited his team to France. On the same day, Knafo addressed the meeting with Mow on her X account, stating, “France must take hold of these issues.”