Texas is getting closer to becoming the first state in the U.S. to hold Bitcoin in a strategic investment fund. Last Thursday, the Texas Senate passed the SB 21 bill, an important step towards making this plan a law.
So what is special about SB 21? How does it differ from previous Bitcoin bills? And why does Texas want to hold Bitcoin?
SB 21 – A Major Step for Bitcoin in Texas
The bill #SB21 was proposed by Senator Charles Schwertner, aiming to create a state-managed strategic investment fund focusing on Bitcoin and other high-cap cryptocurrencies.
Notable points of SB 21 include:
🔹 This fund will be managed outside the state treasury, allowing for more flexibility in investments and taking advantage of crypto market volatility.
🔹 Unlike the previous H.B. No. 1598 bill, SB 21 does not require Texas to hold Bitcoin fixed for 5 years but allows for a more flexible investment portfolio.
🔹 The main goal of the bill is to help Texas combat inflation and seek profits from digital assets.
Before voting, Senator Schwertner emphasized why Texas needs to invest in Bitcoin:
"Texas cannot expect to keep money in a savings account at 1% and keep up with inflation. We need a more advanced mindset when investing in financial assets."
With this argument, SB 21 was passed by the Senate and will continue to be reviewed in the Texas House of Representatives. If approved, this will set an important precedent for other states wanting to enter the crypto market.
Is the U.S. Heading Towards a National “Crypto Reserve”?
Not only Texas, but many other states in the U.S. are also discussing holding Bitcoin and cryptocurrencies in their treasuries.
The President #DonaldTrump recently announced that the U.S. will establish a "crypto reserve." This plan may include major cryptocurrencies such as:
✅ Bitcoin (BTC)
✅ Ethereum ($ETH )
✅ XRP
✅ Solana ($SOL )
✅ Cardano ($ADA )
Although this is just a proposal from the federal government, if this plan comes to fruition, the U.S. will become the first major country in the world to officially hold Bitcoin and other digital assets.
However, it is still unclear whether the U.S. Congress will easily pass this proposal, as crypto remains a controversial topic among lawmakers.
Will Texas Lead the Government's Bitcoin Investment Trend?
If the SB 21 bill is passed in the House of Representatives, Texas will officially become a pioneer state in holding Bitcoin as a strategic asset.
This could incentivize other states in the U.S. and even put pressure on the federal government to accept Bitcoin as part of the economy.
But will Texas really benefit from Bitcoin, or is this just a bold move with many risks? The answer may become clearer in the coming months as the SB 21 bill continues to be discussed. 🚀 #anhbacong