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Texas Governor Greg Abbott Signs Strategic Bitcoin Reserve Bill Into Law
Texas becomes the first U.S. state to establish a publicly-funded, stand-alone Bitcoin reserve.
Texas Governor Greg Abbott has signed a groundbreaking piece of legislation into law, making Texas the third U.S. state to formally establish a strategic Bitcoin reserve, following in the footsteps of Arizona and New Hampshire.
However, Texas distinguishes itself by creating the first stand-alone, publicly funded Bitcoin reserve, independent of the state treasury. The newly enacted Senate Bill 21 (SB 21) assigns oversight of the reserve to the Texas Comptroller of Public Accounts, Glenn Hegar, rather than the state’s general financial administration.
“We can buy land, we can buy gold; I think the state of Texas should have the option of evaluating the best performing asset over the last 10 years,”
— State Senator Charles Schwertner, bill author.
In tandem, House Bill 4488 (HB 4488) was also signed into law. This measure insulates the Bitcoin reserve—and other designated state funds—from the state treasury’s routine ‘fund-sweeps’ into general revenue. The law also guarantees the legal existence of the reserve, even if no Bitcoin is purchased before the 2026 fiscal deadline.
Strategic Investment on the Horizon
The Texas Blockchain Council expects the Lone Star State to commit significant capital to the fund. Its founder and president, Lee Bratcher, stated that the investment would likely reach tens of millions of dollars:
“While it sounds significant, it is a very modest amount for a state the size of Texas,”
— Lee Bratcher, Texas Blockchain Council.
Bratcher emphasized that all investment decisions—regarding how much Bitcoin to purchase and when—will be made solely by professionals at the Comptroller’s office, following standard institutional investment practices.
A Quiet but Symbolic Move
Notably, neither SB 21 nor HB 4488 were featured in the Governor’s official press release highlighting 16 “critical” new laws. Abbott signed a total of 334 bills on Saturday.
Despite its low-profile announcement, the legislation marks a strategic shift in the financial positioning of one of America’s largest and most economically influential states. Analysts say this could spark broader state-level crypto adoption and further legitimize Bitcoin as an emerging reserve asset.
@ Newshounds News™
Source: The Block
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BRICS to Launch New Investment Platform to Rival Western Financial Dominance
Putin and Xi propose alternative capital structure to counter U.S. dollar and IMF influence ahead of 17th BRICS Summit.
In a bold move to reshape global finance, Russia and China have jointly proposed the creation of a new BRICS investment platform aimed at strengthening member economies and challenging the Western-led financial system.
The proposal, introduced by Presidents Vladimir Putin and Xi Jinping ahead of the upcoming 17th BRICS summit in July, outlines a strategic realignment to support growth in the Global South, while deepening intra-BRICS cooperation.
New BRICS ‘Investment Platform’ — What’s the Vision?
The initiative focuses on boosting investment in technology, education, trade, and finance, creating a self-reliant financial ecosystem for BRICS members. Putin emphasized:
“We must multiply the volume of capital investment… Our countries need to step up cooperation in areas such as technology, education, trade, and finance.”
According to the Kremlin, the presidents shared updates in a bilateral phone conversation and signaled urgency in advancing the platform from concept to implementation.
Alternative to Western Institutions
This proposed platform would provide independent capital channels, enabling BRICS nations to reduce reliance on the US dollar and international financial institutions like the IMF.
Should the initiative gain consensus at the July summit, it would mark a major step toward monetary sovereignty for BRICS and possibly other emerging market economies.
The investment platform could also introduce new financing tools, including local currency issuance to support cross-border trade among developing and least-developed countries (LDCs). The mechanism would serve as a strategic counterbalance to dollar-based global trade.
A Financial Shift on the Horizon
Analysts say this platform, if successfully adopted, may catalyze a fundamental shift in global capital flows, giving BRICS nations a competitive alternative to the Western-dominated banking ecosystem.
As BRICS continues to expand its influence—both through de-dollarization and strategic alliances—this initiative could become a cornerstone of emerging market resilience in the decade ahead.
@ Newshounds News™
Source: Watcher.Guru
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