VeChain’s Johnny Garcia Explains Why Texas Could Adopt a Bitcoin Reserve

• Garcia believes that Texas is well-positioned to adopt a Bitcoin reserve due to its pro-innovation leadership
• Last week, the state’s House of Representatives passed Senate Bill 21 (SB 21) with a 101-42 vote
• Texas Governor Greg Abbott still needs to sign the bill, but he has already advocated for Texas to become a hub for blockchain and cryptocurrency innovation

Johnny Garcia, Managing Director of Institutional Growth and Capital Markets at the VeChain Foundation, thinks Texas will probably be the next state to establish a strategic Bitcoin reserve, following New Hampshire’s lead.

Garcia believes that Texas is well-positioned to adopt a Bitcoin reserve due to its pro-innovation leadership. He notes that if that happens, it would normalize digital assets as a strategic asset class, likely encouraging more institutional and enterprise participation. 

Eventually, this could lead to clearer regulations and the development of infrastructure like regulated custody and on-chain auditability.

Speaking of Texas, last week, the state’s House of Representatives passed Senate Bill 21 (SB 21) with a 101-42 vote. It authorizes the state comptroller to invest in di…

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