Texas Congressman Proposes to Limit State Government's Purchase of Bitcoin, Maximum $250 Million

BlockBeats News: On March 12th, Texas Congressman Ron Reynolds submitted a new bill suggesting that state Treasurers should not use the Economic Stability Fund to invest more than $250 million in Bitcoin or other cryptocurrency assets. In addition, the investment limit for local governments and county-level institutions is 10 million US dollars. This proposal follows closely behind the SB 21 bill passed by the Texas Senate last week, which aims to establish the Texas Bitcoin Strategic Reserve without setting a purchase cap.