On March 6, 2025, the Texas Senate accepted Senate Invoice 21 (SB-21) with a 25-5 vote, paving the way in which for the institution of a state-managed Bitcoin strategic reserve.
Launched by State Senator Charles Schwertner, the invoice goals to bolster Texas’s monetary stability by investing in Bitcoin, a scarce digital asset.
Senator Schwertner emphasised that incorporating Bitcoin into the state’s reserves may function a hedge in opposition to inflation and financial volatility, much like how gold has been used historically. He famous that Bitcoin’s decentralized nature and restricted provide make it a sexy asset for diversification.
On February 28, 2025, the Texas Bitcoin Reserve Invoice (SB 21) efficiently passed the Business and Commerce Committee after which proceeded to the Texas Senate for additional overview.
The invoice proposes the creation of the Texas Strategic Bitcoin Reserve, a particular fund exterior the state treasury. This construction is designed to offer flexibility in managing and investing in Bitcoin and different high-market-cap cryptocurrencies.
The reserve can be overseen by the Texas Comptroller of Public Accounts, who would have the authority to amass, handle, and commerce these digital belongings.
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