Texas Moves Closer to Launching Bitcoin Reserve
Texas Senate Bill 21 advances, proposing a Bitcoin reserve for the state—final vote next.
- Texas bill SB21 to create a Bitcoin reserve passes committee.
- The bill now heads to the House floor for a final vote.
- Aims to position Texas as a crypto-forward state.
Texas Bitcoin Reserve Bill Nears Final Vote
Texas is taking a major step toward becoming a leader in cryptocurrency adoption. Senate Bill 21 (SB21), which proposes the creation of a Texas Bitcoin Reserve, has cleared an important hurdle by passing out of the House committee. The bill will now proceed to the House floor for a final vote.
What the Bill Proposes
SB21 aims to establish a state-run Bitcoin reserve, which would allow Texas to hold a portion of its assets in Bitcoin. The bill emphasizes financial independence and hedging against inflation, citing Bitcoin’s decentralized and finite nature as a strategic asset.
If approved, the Texas Comptroller’s office would be directed to purchase and securely store Bitcoin on behalf of the state. Regular audits and public reporting would ensure transparency. The initiative echoes actions taken by other governments and institutions globally, showing increasing trust in Bitcoin as a long-term asset.
Why This Matters for Crypto
The advancement of SB21 highlights Texas’s growing commitment to the crypto sector. Already home to major Bitcoin mining operations and a favorable regulatory climate, Texas could become the first U.S. state to officially adopt Bitcoin as a reserve asset.
Supporters believe the move could attract more blockchain businesses and investors, solidifying the state’s position as a crypto innovation hub. Critics, however, warn of volatility risks associated with holding Bitcoin in public reserves.
With the final vote pending, the crypto community is watching closely. A “yes” from the House could make Texas a pioneer in state-level Bitcoin adoption.
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