Texas State Bitcoin Reserve Gets Closer With Senate Bill Passage

Texas Senators on Thursday passed a bill that seeks to create a strategic Bitcoin reserve in the state, pushing the proposal one step closer to becoming law as it next heads to the House of Representatives.

The bill—SB 21—proposes a "state-managed investment fund focused on Bitcoin and other high-market-cap cryptocurrencies."

A number of U.S. states are trying to pass legislation to hold Bitcoin and other cryptocurrencies.

Editor's note: This is a breaking news story and will be updated.