According to Crypto Rover, Texas has officially signed the Bitcoin Reserve into law, allowing the state to purchase unlimited amounts of Bitcoin (BTC) without any cap, as reported on June 23, 2025 (source: @rovercrc on Twitter). The law mandates that all BTC holdings must be stored in cold storage with regulated custodians, ensuring enhanced security. Importantly, the law stipulates that Bitcoin can only be sold to cover short-term cash gaps, preventing unnecessary liquidations. This regulatory move is widely considered bullish for the cryptocurrency market, as it signals strong institutional support and could drive increased demand for BTC, potentially impacting global crypto prices.

According to Eleanor Terrett, New Hampshire has become the first U.S. state to enact a law permitting its treasurer to purchase Bitcoin as a strategic reserve, either directly or via an exchange-traded product (ETP) (source: Eleanor Terrett, May 6, 2025). This development establishes a precedent for institutional crypto adoption at the state level and signals growing governmental trust in Bitcoin as a store of value. Crypto traders may see increased legitimacy and potential price support for Bitcoin as other states or entities could follow New Hampshire's lead, potentially boosting institutional demand and market liquidity.