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On March 6, 2025, the Texas Senate approved Senate Bill 21 (SB-21) with a 25-5 vote, paving the mode for the constitution of a state-managed Bitcoin strategical reserve.
Introduced by State Senator Charles Schwertner, the measure aims to bolster Texas’s fiscal stableness by investing successful Bitcoin, a scarce integer asset.
Texas Senate approved Senate Bill 21, Source: XSenator Schwertner emphasized that incorporating Bitcoin into the state’s reserves could service arsenic a hedge against ostentation and economical volatility, akin to however golden has been utilized traditionally. He noted that Bitcoin’s decentralized quality and constricted proviso marque it an charismatic plus for diversification.
On February 28, 2025, the Texas Bitcoin Reserve Bill (SB 21) successfully passed the Business and Commerce Committee and past proceeded to the Texas Senate for further review.
The measure proposes the instauration of the Texas Strategic Bitcoin Reserve, a peculiar money extracurricular the authorities treasury. This operation is designed to supply flexibility successful managing and investing successful Bitcoin and different high-market-cap cryptocurrencies.
The reserve would beryllium overseen by the Texas Comptroller of Public Accounts, who would person the authorization to acquire, manage, and commercialized these integer assets.
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