Texas starts a Bitcoin reserve, France may follow, and investors back Bitcoin-buying company with $51.5M.
- Texas creates its own Bitcoin reserve through Senate Bill 21.
- France shows interest in national Bitcoin adoption plans.
- Nakamoto Holdings raises $51.5 million to buy more Bitcoin.
Texas Starts State Bitcoin Reserve
Texas Governor Greg Abbott has signed Senate Bill 21, setting up a new Bitcoin reserve for the state. The Texas Strategic Bitcoin Reserve will work separately from the state’s usual financial systems. It is designed to support the state’s economy and help guard against inflation.
Only assets with a market value over $500 billion can be held in the reserve. Bitcoin is the only asset that currently qualifies. The reserve will be managed by the Texas Comptroller of Public Accounts, with help from three crypto experts on an advisory team.
France Looks Into National Bitcoin Plans
Samson Mow, head of the crypto firm Jan3, met with Sarah Knafo, a French lawmaker, during BTC Prague. They talked about creating a Bitcoin reserve in France and making better rules for using Bitcoin in Europe. Knafo invited Mow’s team to France to continue those talks.
Mow aims to bring nation-state Bitcoin adoption to “all of Europe.” Knafo agreed, saying that France must take these matters seriously to keep up with global innovation.
Investors Back Nakamoto Holdings With $51.5M
Nakamoto Holdings, a U.S. company that buys Bitcoin, has raised $51.5 million in new funds. The money came from a private equity deal. The company was founded by David Bailey, who advises former President Donald Trump on crypto topics.
The funds were collected in less than 72 hours, showing rising interest from investors. The company plans to use the money to purchase more Bitcoin. It now has about $563 million in total funding, with $763 million when convertible notes are included.
Bailey noted strong demand, saying they will continue gathering more funds to increase their Bitcoin holdings.
Source: cointelegraph.com