The innerText attribute will do the work:
<body>
<button type="button" id="button1" onclick="foo()">Result!</button>
<script type="text/javascript">
function foo() {
var button = document.getElementById("button1");
button.innerText = "<strong>my text</strong>"
}
</script>
</body>
Note: Firefox doesn’t support innerText, but has its own property called textContent, which can be used instead.
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solved Setting button title in HTML to a non-formatted text