Texas House passes SB 21 in second reading
Bill proposes creation of a state-run Bitcoin reserve
Awaits governor’s signature for final approval
Texas Moves Closer to Creating a Bitcoin Reserve
In a landmark move, the Texas House of Representatives has passed the Strategic Bitcoin Reserve Bill (SB 21) in its second reading. This bill aims to establish the Texas Strategic Bitcoin Reserve, allowing the state to hold Bitcoin as part of its official assets. With one final step remaining, the bill now awaits the governor’s signature to become law.
Texas has long been seen as one of the most crypto-friendly states in the U.S., and this development solidifies its leading role in digital asset adoption at the government level. By proposing a state-managed Bitcoin reserve, Texas is positioning itself as a pioneer in merging traditional finance with decentralized technology.
What the Bill Includes
SB 21 outlines the creation of a Bitcoin reserve held and managed by the Texas state government. The goal is to diversify state holdings, provide an inflation hedge, and prepare for the financial future using a limited-supply, decentralized asset.
The bill allows for the strategic acquisition of Bitcoin over time, with proper oversight to ensure responsible management. Supporters argue this initiative reflects foresight in economic planning, especially as the global financial landscape increasingly embraces digital assets.
Next Step: Governor’s Desk
With two readings successfully completed, the Strategic Bitcoin Reserve Bill now awaits the governor’s approval. If signed into law, Texas will become the first U.S. state to formally incorporate Bitcoin into its financial reserve strategy.
This move could set a precedent for other states exploring ways to integrate cryptocurrency into public finance. It also sends a strong signal to both investors and innovators that Texas is committed to being at the forefront of blockchain and digital asset advancement.
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