Satoshi Action Fund CEO says Texas discussing Bitcoin as strategic reserve asset

Dennis Porter, the CEO of the U.S. nonprofit organization Satoshi Action Fund, mentioned at the North American Blockchain Summit 2024 on Nov. 21 that Texas is reportedly discussing a bill to use Bitcoin as a strategic reserve asset, according to Cointelegraph. He explained that if Texas, with a GDP of $2.4 trillion, adopts BTC as a reserve asset, it would have a significant impact on the cryptocurrency industry. In a recent related development, lawmakers in Pennsylvania have introduced a bill in the state House of Representatives earlier this month to allocate 10% of the Treasury's balance sheet to BTC as an inflation hedge.