Texas Goes All In: Bitcoin Reserves and Other Wild Ideas!

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Well, bless my heart! Texas Lieutenant Governor Dan Patrick has decided that this year’s legislative agenda needs a little more sparkle—specifically, the kind that comes from a shiny Bitcoin reserve. Because, you know, nothing says “responsible governance” quite like a state-level cryptocurrency stash. 💰

In a stunning twist of fate, Axios reported that the Lone Star State, which is already flexing its economic muscles with a GDP of $2.4 trillion (that’s trillion with a “T,” folks), is considering allowing Bitcoin donations. Because who wouldn’t want to give their hard-earned digital coins to the state? It’s like donating to a charity, but instead of helping the needy, you’re just helping Texas buy more cowboy hats and barbecue. 🤠

Texas has become the go-to destination for Bitcoin mining, with industrial-scale operations popping up like wildflowers in spring. I mean, if you’re going to dig for gold, why not dig for digital gold? It’s not like we have any other pressing issues, right? Just a little thing called “the future of money.” No biggie.

But wait, there’s more! Other states are also getting in on the Bitcoin action. Florida, Ohio, North Dakota, and Wyoming are all contemplating their own Bitcoin treasuries. It’s like a game of Monopoly, but instead of collecting properties, they’re hoarding virtual coins. I can just picture the state governors sitting around a table, arguing over who gets to be the banker. 🏦

Meanwhile, Senator Cynthia Lummis from Wyoming has decided that public hearings on a federal Bitcoin reserve should be at the top of her to-do list. Because nothing screams “urgent” like a bunch of politicians discussing digital currency while the world burns around them. Lummis has recently been appointed as the chair of a newly established Senate subcommittee on digital assets. I can only imagine the riveting discussions that will ensue—“So, how do we make Bitcoin more… Bitcoin-y?”

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2025-01-30 00:08