Texas is for Bitcoin Governor Greg Abbott has given assurance in signing the Texas SB21 Bill into law once the Bill has been forwarded to his office. I always know Governor Greg as a man of his words and he has been showing Keen interest on the SB 21 bill right from the onset, Likewise as a strong supporter of bitcoin in the US. I don't know how much taxpayers funds will be invested into Bitcoin but I am certain its gonna be huge since it's coming from the 8th largest economy in the world. For sure Texas will certainly become the Bitcoin headquarter of the USA.
No figures indicated on how much but they will not solely use the funds of tax payers since they have source like private donations and their investment earnings.
What's really more interesting about this is they allow people to donate on their reserve this is somehow a great article to read more about Texas plans and other more
https://www.texaspolicyresearch.com/texas-house-approves-sb-21-paving-way-for-state-run-bitcoin-reserve/Although there are doubts towards the action they made but for sure everything will be fine just like other institution invest first especially if they can work everything so well.
It will be interesting how Texas being active on accumulating bitcoin, will impact the game theory at federal level (Will the FED like being frontrunner by a single state Reserve?
Second, what happens at international level, if Texas starts frontrunning all the others nations. Imitation as a power to innovations.
If Texas can create a Bitcoin reserve using its strategy and become profitable, then other states in the United States will definitely follow suit. Due to which the pressure on the Fed will increase more. At some point, the Fed may be forced to follow the Texas's path. And for this reason, it will have to change its policy.
Such an initiative in Texas will not only be implemented in the United States of America, but other countries of the world may try to imitate it in the same way, which is very natural. If such a situation is created, there will definitely be a huge demand for Bitcoin worldwide. People's interest in Bitcoin will increase even more. The state of Texas will definitely be interested in doing something like this in the future, the whole world may follow the state.