Crypto Adoption: Texas And New Hampshire now Support Bitcoin
Despite the shockwaves firms bankruptcies and collapses sent to the crypto industry, two U.S. States have picked an interest in crypto and Blockchain affairs.
Recently Texas released a report titled ” Texas Work Group On Blockchain Matters,” likewise New Hampshire who also released a report on the crypto space.
Two U.S. States Pick Interest In Crypto
In recent news, the states of Texas and New Hampshire have announced their support for the use of Bitcoin and other cryptocurrencies.
This is a significant development for the crypto community, as it signifies a growing acceptance of cryptocurrencies gradually.
However, the question remains, will these states take advantage of the current dip in the price of Bitcoin and make purchases?
The state of Texas has a history of embracing new technologies and innovations.
It has housed a large number of technology companies, and has a reputation for being a business-friendly state.
The New Hampshire Governor recently passed an executive order to the Department of Energy in the state to look into how Bitcoin mining can be utilized to help in the States power grid and develop more projects.
These two states see this medium as a sustainable source of power that can be turned on and off. They made reference to the arctic storm, where Bitcoin miners powered off and still kept the grid running, to prevent hazardous effects due to the storm.
Will Other U.S. States Join the Bitcoin Train?
Despite this positive news, it is unclear whether these states will take advantage of the current dip in the price of Bitcoin and buy into the dip.
The price of Bitcoin has been highly volatile in recent months, and many investors are hesitant to make purchases during a dip.
However, some experts believe that this dip could be an opportunity for long-term investors to buy in at a lower price.
In the case of Texas and New Hampshire, these states may invest in Bitcoin as part of their treasury reserves.
In the case of Texas, it has a large amount of money in its treasury reserve fund, and investing a part of it in Bitcoin could be a strategic and promising move.
Similarly, New Hampshire could also consider this option as a way to diversify its reserves. These new involvement from these two states indicate a growing acceptance of cryptocurrencies at the state level.
While it remains to be seen whether these states will take advantage of the current dip in the price of Bitcoin and make purchases, it is possible that they may invest in the digital currency as part of their treasury reserves.
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