Texas bill would let cities and counties invest up to $10M each in Bitcoin

Texas has introduced a bill allowing cities and counties to invest up to $10 million each in Bitcoin, potentially channeling public funds into the largest cryptocurrency by market cap. The legislation aims to diversify local government investment portfolios beyond traditional assets, though it may create uneven risk management and financial exposure across the state's municipalities. If passed, the bill would let individual local governments decide whether to allocate reserve funds to BTC, subject to the $10 million per-entity cap. The proposal matters as another sign of Bitcoin's growing acceptance among public-sector treasuries, following similar moves at the state and national level. What to watch next is committee review and any amendments to the cap or custody requirements, plus whether other states copy the model.