The first public hearing on establishing a Bitcoin reserve will be held in Texas, USA on February 18,
#战略储备资产 Information released by the Texas government website shows that the first public hearing regarding the potential establishment of a strategic Bitcoin reserve in Texas is scheduled for February 18. Notably, it has been less than a week since the Senate secretary received the bill.
Although this move is a positive step towards the adoption of Bitcoin, Iliya Kalchev, a scheduling analyst at the cryptocurrency lending platform Nexo, believes that this hearing may merely be a 'symbolic action' in the cryptocurrency market.
Kalchev stated: 'Texas considering Bitcoin as a reserve asset is another step towards institutional legitimacy for Bitcoin. However, compared to the capital inflows of ETFs or the asset allocation of corporate treasuries, such state-level actions often only create ripples rather than huge waves. Unless the hearing announces a recent purchasing plan or there is a significant policy shift, the market's reaction may be relatively mild, especially since Texas's supportive attitude towards cryptocurrency is already well known.'