According to Cointelegraph, the Texas House of Representatives passed SB 21, a bill aimed at establishing a state strategic Bitcoin reserve. The bill passed with a vote of 101-42 and is now awaiting the signature or veto of Governor Greg Abbott.
SB 21 was written by State Senator Charles Schwertner and stipulates that the Bitcoin reserve will be managed by the state comptroller. The bill allows for investments in cryptocurrencies with a market capitalization of over $500 billion, with Bitcoin currently being the only one that meets this requirement.
State Representative Giovanni Capriglione stated that this bill is a critical moment to ensure Texas's leadership in the digital age, marking our embrace of modern assets with traditional attributes.
