Texas is making history! The Texas Senate has passed Senate Bill 21 (SB 21), a proposal to establish a Strategic Bitcoin Reserve. The bill, approved by a 25-5 majority, is now headed to the Texas House for further discussion.
What is SB 21?
SB 21, introduced by Senator Charles Schwertner, allows the Texas Comptroller to invest in Bitcoin and other top-tier cryptocurrencies. The goal is to diversify Texas’s financial reserves, reduce reliance on traditional assets, and strengthen economic stability.
Key Highlights of SB 21:
✅ Bitcoin as a Strategic Asset – Texas will hold Bitcoin as a hedge against financial uncertainty.
✅ Comptroller’s Authority – The state will manage and secure its crypto holdings.
✅ Market Cap Requirement – Investments will be limited to cryptocurrencies with a market cap exceeding $500 billion (currently, only Bitcoin qualifies).
Why This Matters
If passed, this bill could make Texas a global hub for Bitcoin adoption, attracting businesses and investors to the state. It also signals that cryptocurrencies are gaining mainstream acceptance in government financial strategies.
What’s Next?
The bill will now be debated in the Texas House. If approved, Texas will become one of the first U.S. states to hold Bitcoin in its financial reserves. This could set a precedent for other states and even countries to follow.
🚀 Texas is embracing the future of finance! 🚀
