#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Texas establishes the first independent state-level Bitcoin reserve in the United States.
According to Gate News bot, as reported by Cryptonews, Texas has officially joined the ranks of a few states in the United States that are advancing towards on-chain finance and has passed a bill to protect Bitcoin reserves.
Texas Governor Greg Abbott signed Senate Bill 21 last Saturday, aimed at establishing a state-funded Bitcoin reserve, which is the first of its kind in the United States.
Unlike similar initiatives in Arizona and New Hampshire, Texas is creating an independent reserve fund that is completely separate from the state treasury.
The fund will be overseen by Texas Comptroller Glenn Hegar and aims to explore the potential of Bitcoin as a strategic asset class.
"We can buy land, and we can buy gold; I believe Texas should have the right to choose to assess the best-performing assets over the past decade," said the bill's author, Senator Charles Schwertner, earlier this year.