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On Saturday, Texas became the first-ever US state to commit public funds towards the purchase of Bitcoin.
Governor Greg Abbott signed Senate Bill 21 (SB21), officially authorizing the establishment of the Texas Strategic Bitcoin Reserve.
Keep reading to learn more about this development, increasing investor and government confidence in Bitcoin’s long-term potential, and what’s the best crypto to buy now in order to ride the upcoming crypto wave. Texas Passes Groundbreaking Bitcoin Reserve Bill
‘We can buy land, we can buy gold; I think the state of Texas should have the option of evaluating the best performing asset over the last 10 years.’
This is what the Texas Bitcoin bill’s author, State Senator Charles Schwertner, said in February.
Four months later, Texas has put its faith in the ‘digital gold’ to strengthen its financials and act as an effective hedge against inflation.
It’s worth noting that although Texas is the third US state to create a Bitcoin reserve (after Arizona and New Hampshire), it’s the first to create a publicly-funded reserve.
Neither of the other two has allocated public funds for the purchase of Bitcoin. By putting actual taxpayer dollars into $BTC, Texas has not only officially recognized Bitcoin as a store of value but also signaled its unwavering trust and long-term commitment to the digital asset.
A publicly-funded reserve is also likely to increase demand for Bitcoin. It’s also worth mentioning that large public companies like Michael Saylor’s Strategy have aggressively bought Bitcoin over the past few months.
With here are some of the best new cryptos you can buy to benefit from Bitcoin’s growing acceptance among corporations and government agencies. 1. BTC Bull Token ($BTCBULL) – Best Crypto to Buy Now, Get Free $BTC Airdrops
BTC Bull Token ($BTCBULL) is the best crypto to invest in if you want to eke out the maximum amount of returns possible from Bitcoin’s bull run. $BTCBULL’s biggest selling point is that it’s the ONLY crypto on the market right now, offering free (and completely legit) $BTC to its token holders.
If you’re a $BTCBULL holder who has stored his tokens in Best Wallet, you’ll receive your share of free $BTC (depending on your $BTCBULL holdings) every time the king cryptocurrency reaches a landmark, such as $150K and $200K, for the first time.
Thanks to its never-before-seen approach to rallying behind Bitcoin and community rewards, BTC Bull Token is predicted to explode 270% and reach $0.0096 by 2026.
A huge reason behind this is the project’s deflationary model, which will burn a part of the total $BTCBULL token supply at regular intervals, creating a supply shortage and hiking prices.
The best part? $BTCBULL is currently in presale, where it has raised over $7.2M. Each token is priced at $0.002575, and here’s how to buy it. 2. Bitcoin Hyper ($HYPER) – Building Layer 2 on Bitcoin for Scalability & Fast Transactions
Despite being the OG blockchain, Bitcoin has been struggling with slow transaction speeds and high fees, as well as limited compatibility with decentralized applications and Web3. Enter Bitcoin Hyper ($HYPER).
By building a Bitcoin Layer 2 and connecting it to the Layer 1 using a Canonical Bridge and Solana Virtual Machine (SVM) integration, Bitcoin Hyper aims to bring programmability and scalability to the Bitcoin ecosystem.
Plus, it will do so without impacting the network’s security and decentralization benefits. Here’s how it works: You send $BTC through the Canonical Bridge, which converts it into wrapped $BTC on the L2. You can use wrapped $BTC to access high-speed DeFi apps, pay for transactions on the L2, etc. When you’re done, just raise a withdrawal request on the L2 network. It will again use a smart contract to verify the transaction and convert wrapped $BTC back to original $BTC.
Luckily for you, one $HYPER is currently available for just $0.011975 (the token could soar 2,000% by 2030), and the project has in total raised over $1.5M. Here’s how to buy it. 3. Tutorial ($TUT) – Educating Folks About Everything Crypto
Tutorial ($TUT) has been one of the biggest beneficiaries of crypto’s growth and increasing awareness among the masses.
That’s because it’s an AI-powered tool that educates people about different crypto-related topics and tools, including setting up a crypto wallet.
Other ‘tutorials’ in its repertoire include teaching people how to write smart contracts, trade on the best decentralized exchanges, and learn everything there is to know about the BNB chain ecosystem.
$TUT has been on a sensational run of late, gaining more than 25% over just the past 7 days. It’s currently trading at $0.03583, offering a discounted entry point before it explodes to mimic crypto’s rise. As States Back $BTC, Altcoins Emerge as Attractive Investments
With regulated, state-backed crypto holdings becoming increasingly mainstream, we’re clearly headed towards a world where diversified crypto assets (the best altcoins included) are looked at as both stores of value and investment opportunities.
However, make sure you do your own research and due diligence before investing in crypto. The market is highly uncertain, and our article isn’t financial advice.