According to The Block, Texas Acting Comptroller Kelly Hancock has officially appointed four external members to the Strategic Bitcoin Reserve Advisory Committee. Established under Senate Bill 21, the committee includes Gary Vecchiarelli, President and CFO of CleanSpark; Jamie McAvity, Founder and CEO of bitcoin mining company Cormint; Carla Reyes, Professor of Law at Southern Methodist University; and investment executive Laurie Dotter, who will advise the Comptroller on bitcoin valuation, custody, and risk management. Texas has already established an initial position of $10 million through the BlackRock-backed IBIT Bitcoin ETF and has issued a request for proposals to identify service providers that will assist in transitioning the reserve assets from IBIT to direct bitcoin holdings. Texas is the third U.S. state, following Arizona and New Hampshire, to enact legislation establishing a strategic bitcoin reserve.
Texas Establishes Strategic Bitcoin Reserve Advisory Committee, Seeks Direct Bitcoin Custody
TechFlowShare
Summary
Texas has appointed four experts to its Strategic Bitcoin Reserve Advisory Committee, focusing on Bitcoin valuation, risk management, and custody. Formed under Senate Bill 21, the committee includes Gary Vecchiarelli, Jamie McAvity, Carla Reyes, and Laurie Dotter. Texas currently holds a $10 million position through BlackRock’s IBIT ETF and plans to transition toward direct Bitcoin holdings. The state joins Arizona and New Hampshire in enacting legislation to establish a strategic Bitcoin reserve, with a long-term strategy centered on support and resistance levels.
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