๐จ *BREAKING: Texas Legislature Passes Strategic Bitcoin Reserve Bill* ๐จ
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๐๏ธ *What Happened?*
On March 6, 2025, the Texas Senate passed Senate Bill 21 (SB 21) with a 25-5 vote, aiming to establish the Texas Strategic Bitcoin Reserve. This reserve would allow the state to invest in Bitcoin and other digital assets with a market capitalization of at least 500 billion over the preceding 12 months. The bill has advanced to the Texas House of Representatives for further consideration.
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๐ฐ *Why It Matters*
- *Diversification*: The reserve aims to diversify Texas's investment portfolio by including digital assets, potentially serving as a hedge against inflation and economic volatility.
- *Leadership in Crypto*: If enacted, Texas would become the first U.S. state to establish a Bitcoin reserve, positioning itself as a leader in cryptocurrency adoption at the state level.
- *Transparency and Oversight*: The bill mandates regular third-party audits and biennial reports to ensure transparency and accountability in managing the reserve.
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๐ *Market Implications*
The passage of SB 21 reflects growing institutional interest in Bitcoin. As of now, Bitcoin is trading at approximately *104,482*, showing a positive trend. Texas's move could influence other states to consider similar initiatives, potentially impacting the broader cryptocurrency market.
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๐ฎ *Looking Ahead*
The bill now awaits further deliberation in the Texas House. If approved and signed into law, Texas's strategic reserve could set a precedent for other states exploring cryptocurrency investments.
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*Stay tuned for updates on this developing story.*
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