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.

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.

Social Security is a vital financial safety net for over 66 million people across the United States. In April, the average Social Security check among 52.6 million retired workers was $1,999.97, an annualized sum of about $24,000 for the average beneficiary.

Just how important is Social Security to Americans? The typical U.S. household only has $185,000 to $200,000 in retirement savings by the time they approach 62, the earliest you can begin claiming Social Security.

Based on the popular 4% rule, that typical household would only be able to withdraw about $8,000 annually. In other words, many retirees depend on Social Security as a major source of income.

That means retirees must stretch their Social Security as much as possible. It would help not to have to pay state taxes on your benefits. Fortunately, 41 states don’t tax Social Security. Knowing where your state stands on this issue can help you make the best retirement decisions.

Image source: Getty Images.

Here are the 41 states that won’t tax your Social Security benefits:

1. Alabama
2. Alaska
3. Arizona
4. Arkansas
5. California
6. Delaware
7. Florida
8. Georgia
9. Hawaii
10. Idaho
11. Illinois
12. Indiana
13. Iowa
14. Kansas
15. Kentucky
16. Louisiana
17. Maine
18. Maryland
19. Massachusetts
20. Michigan
21. Mississippi
22. Missouri
23. Nebraska
24. Nevada
25. New Hampshire
26. New Jersey
27. New York
28. North Carolina
29. North Dakota
30. Ohio
31. Oklahoma
32. Oregon
33. Pennsylvania
34. South Carolina
35. South Dakota
36. Tennessee
37. Texas
38. Virginia
39. Washington
40. Wisconsin
41. Wyoming

Note that Washington, D.C. also doesn’t tax Social Security benefits.

Now, some states don’t tax income of any kind, while others may tax income from other sources, such as a 401(k). It’s essential to get a sense of where your income will come from and how your state’s tax code applies to you.

The federal government isn’t quite as forgiving — how to determine what you may owe

State taxes are just one part of the equation. The federal government will have its hand out, and that’s regardless of the state you reside in

Once you begin collecting Social Security, the government will look at your combined income, calculated as the sum of your adjusted gross income (AGI), any nontaxable interest, and half of the Social Security benefits from a given year.

Based on that combined income amount, a portion of your Social Security benefits could be subject to federal taxes:

Source: The Internal Revenue Service (IRS).

Will President Trump’s “The One, Big, Beautiful Bill” end federal taxes on benefits?

There is a lot of attention on President Trump’s The One, Big, Beautiful Bill Act, which is an effort to codify and build on key components of the Tax Cuts and Jobs Act from Trump’s first term.

President Trump promised to eliminate federal taxes on Social Security on the campaign trail, but the bill, as it currently stands, does not do that. Instead, it will temporarily increase the standard deduction by up to $4,000 for U.S. seniors (aged 65 and older) from 2025 through 2028.

This provision isn’t exclusive to Social Security beneficiaries, but since many beneficiaries have low income, it could benefit many people receiving benefits. The increase begins to phase out at an adjusted AGI of $75,000 for single filers and $150,000 for joint filers, so this benefit will not be available to high-earning seniors.

While this means President Trump is technically walking back one of his key campaign promises, it could ultimately help protect Social Security’s long-term financial stability.

And of course, nine states do tax Social Security benefits:

1. Colorado
2. Connecticut
3. Minnesota
4. Montana
5. New Mexico
6. Rhode Island
7. Utah
8. Vermont
9. West Virginia

Please note that some of these states have income thresholds or other rules that lighten the tax burden for many retirees, so simply being on this list isn’t necessarily an indictment of any given state. West Virginia will join the majority when it phases out its tax on Social Security benefits by next year.

The reality is that many factors will impact your finances in retirement, including local and state taxes and services, real estate prices, and more. Don’t hesitate to consult a tax professional if you’re unsure about the tax laws in your state.

May saw bullish momentum in crypto markets as Bitcoin (BTC) reached a new all-time high above $111,000 and Coinbase joined the S&P 500.

Markets could breathe a sigh of relief when, on May 12, US President Donald Trump reached a trade deal with China, putting a 90-day hold on tariffs that had markets in a tailspin. The news saw BTC price hit $105,000, a three-month high, before tipping down to $102,000.  

On the policy front, five US states enacted new Bitcoin laws. Texas established the long-awaited state Bitcoin reserve. In Alabama, an effort to exempt crypto from certain forms of taxation was indefinitely postponed. 

OpenAI is looking to move into the US and set up eye-scanning Orb stations across six cities in five American states. The move follows legal actions against World in 12 countries.

Here’s May by the numbers:

Five states enact crypto-related laws in May, Texas passes Bitcoin reserve bill

In the US, cryptocurrency legislation is moving ahead on multiple fronts, with five states passing or enacting cryptocurrency-related bills. 

In Texas, the state passed a bill that establishes a state Bitcoin (BTC) reserve. New Hampshire made a similar move, enabling the state treasurer to invest in public funds containing precious metals and digital assets like Bitcoin with the passage of HB302.

In Arizona, the newly formed Bitcoin and Digital Assets Reserve Fund will hold unclaimed digital assets. The state of Arizona can now claim ownership of abandoned digital assets if the owner fails to respond to contact attempts for three years. The state can also stake the assets in the fund to earn airdrops and rewards. 

In Nebraska, public power utilities now have some authority over Bitcoin miners. LB526, which passed in final reading on May 14, allows them to require Bitcoin miners using 1 megawatt or more to cover the cost of infrastructure upgrades. It also introduces a permit regime and reporting requirements for power consumption. 

Oregon has included crypto in its Uniform Commercial Code.

Coinbase stock up 19.37% in May, joins S&P 500

The stock price of crypto exchange Coinbase is up 19.37% over the month, despite disclosing a $400 million security incident on May 15. 

Despite the eye-watering sum of the attack, which has reportedly triggered an investigation by the US Department of Justice, the stock price closed May 29 at $248.84.

Furthermore, the crypto company became the first to be included in the benchmark S&P 500 Index, which the crypto industry hailed as a new high for crypto adoption and industry growth. 

Not everyone is pleased. Concerns about security and the overall volatility of the stock market have left some observers doubting the exchange’s inclusion in the renowned index. “All I can tell you is this is not good,” said business and economics commentator Ed Elson.

Related: Coinbase in S&P 500: More crypto firms to come?

Major indexes bounce back after 90-day US-China tariff deal

On May 12, the Trump administration announced that it had reached a deal with China to suspend tariffs for 90 days, with the S&P 500 and the Nasdaq seeing nominal gains of 4.5% and 3%, respectively, a day after the news. Bitcoin was also up 2%.

According to a market analysis by Cointelegraph, Bitcoin failed to smash expectations in the days that followed, as macroeconomic conditions favored stocks over investments like Bitcoin or gold, the latter of which fell 3.4% on May 12.

Before trading opened on May 30, the Nasdaq-100 index was up 9.16% for the month, while the S&P 500 climbed 6.16%.

Bitcoin “Pizza Day” sees market cap top Amazon at $2.2 trillion, BTC ATH

On May 22, “Bitcoin Pizza Day,” the market capitalization of Bitcoin crossed $2.2 trillion, overtaking the market cap of e-commerce giant Amazon. 

Pizza day, which marks Bitcoin OG Laszlo Hanyecz’s 10,000 BTC pizza purchase in 2010 (worth $41 at the time), also saw Bitcoin price hit a new all-time high at just over $109,000. Bitcoin broke the record a few days later by reaching $111,970.

By the end of the month, Bitcoin’s rally cooled as demand for the asset slowed, with spot Bitcoin exchange-traded funds snapping a 10-day inflow streak and recording $347 million in net outflows on May 29.

OpenAI moves world project to US after enforcement actions in 12 countries

On April 30, OpenAI CEO Sam Altman announced that his company’s digital identity project, World, would be setting up in the United States. 

Regulators in 12 different countries have taken some form of legal action against World, with stated reasons ranging from data privacy and protection (Kenya) to concerns over possible economic manipulation through its token (Brazil). In Hong Kong, the project is banned outright. 

Related: Alarm bells ring in US over OpenAI’s crypto project World

World has addressed privacy concerns by stating that it holds no identifying information attached to the unique eye scan recorded on its Orb devices. It also states that it does not control or own that information, but that users own and control that information in the form of their World ID.

Magazine: Adam Back says Bitcoin price cycle ’10x bigger’ but will still decisively break above $100K

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Yesterday, Rep. Jordan Pace reintroduced Bill H. 4256, the “South Carolina Strategic Digital Asset Reservation Act,” into the South Carolina House of Representatives.

Highlights of the bill include the fact that state accounting will allow up to 10% of the funds under the control of the state to invest in digital assets, including Bitcoin, and that state strategic digital asset reserves could contain up to 1 million Bitcoin.

The bill also states that the reason for establishing such reserves is because inflation erodes the purchasing power of assets held in state funds, and that “bitcoin, decentralized digital assets, and other digital assets provide unique properties that serve as hedges against swelling and economic instability.”

The bill does not specify whether state officials should retain private keys to Bitcoin and other digital assets that accumulate in Bitcoin and other digital assets, but state treasurers can develop policies and protocols to protect protected assets, including third-party contracts to maintain refrigerated or third-party detention. State treasurers can also use third parties to help create, maintain and manage the security of the protected area.

According to the bill, state accountants will be responsible for preparing biennial reports, including the total amount of digital assets held in reserve assets, the US dollar value of those assets, and transactions and expenditures related to reserves since the previous report. State accounts must also publish a preparatory certificate, including public addresses for digital assets held in the reserve on their official website.

Finally, the bill provides that strategic digital asset reserves undergo audits, including investigations into the quality of security of custody solutions. Assessment of compliance with local, state and federal laws. Evaluation of internal controls to mitigate mitigation against cyberattacks and inappropriate management.

According to the bill, independent audits are conducted annually and must be submitted to the relevant oversight committee. Recommendations resulting from independent audits must be addressed within 90 days of the publication of the report, and a follow-up report detailing the corrective action taken must also be provided to the Oversight Committee.

March 13th US and Bitcoin Reserve Crypto Policy: A Story of Friends Between States and Cryptocurrencies

In the context of increasing numbers of criminal cryptocurrencies in financial life, President Donald Trump’s administration officially announced plans to establish a strategic Bitcoin reserve warehouse and a US digital asset warehouse. This move, despite much debate, is a major turning point in government approaches to crypto.

Crypto Reserve: A new signal or just a color?

On March 6, 2024, the US government announced its Bitcoin Reserve Warehouse and Digital Asset Fund, showing a new move in its cryptocurrency approach. Initially, the reserves consisted only of Bitcoin. It was confiscated through criminal and civil lawsuits. Instead of purchasing more crypto, use existing assets to purchase options with the “budget” approach. Additionally, private funds control other cryptocurrencies such as Ether, XRP, Solana and Cardano, but have no plans to buy them anytime soon.

Future meetings will reveal details on how to manage reserve warehouses and their impact on US crypto policy. People look forward to discussing legal transparency, organizational application, and the role of digital assets in the national economy. However, the market reaction is very cold. Bitcoin fell more than 5%, bringing in other large currencies. Many investors are disappointed to find out that the US won’t buy more crypto, but only the property is confiscated.

It’s not just bitcoin

Crypto became a prominent issue in the 2024 US presidential election. Candidates for both parties have mentioned attracting voters to love code. In particular, he appeared at the Bitcoin Conference of former President Donald Trump and independent candidate Robert F. Kennedy Jr. Nashville. This refers to the idea of ​​”strategic Bitcoin reserves” to strengthen financial sovereignty and help the US lead the field in digital assets.

After Trump was re-elected, he fulfilled his promise to create a more friendly environment with code. One of the first moves is to issue an executive order to set up working groups to study the creation of digital asset reserves. Unlike previous governments, which focused on strong legal action against crypto exchanges, Trump chose to integrate digital assets into the national financial system.

However, the decision to include it in many types of assets other than Bitcoin has also come across mixed opinions. When Ripple (XRP), Solana (SOL) and Cardano (ADA) are also included in the list, Bitcoin supporters (Bitcoin maximalists) feel disappointed. This raises controversy: Does the government prioritize diversifying or diversifying investments?

Bitcoin Storage: Free or Control?

The announcement of the US Strategic Bitcoin Reserve Warehouse has broken the heated debate in the crypto community. One claims that this is a historical turning point, bringing legality and encouraging acceptance from the organization. They believe this preparation can strengthen the US financial position in the digital age.

On the other side, they are concerned that the government is breaking the decentralized spirit of codes. By choosing a particular cryptocurrency, the government accidentally turned itself into a “judge” and distorted the capital markets based on free competition. It’s even stronger because much of Austrian economics believes that crypto is a way out of the state-controlled financial system.

In short, the discussion of strategic Bitcoin Reserve Warehouses reflects the initial vision of a decentralized financial system and the conflicts that are widely applied by traditional organizations. No matter which side it is clear that Crypto is gradually becoming an integral part of global monetary policy.

Will Crypto be a political “card” or will it really be a financial revolution? The answer is probably how the US can resolve existing conflicts.

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