- Texas Senate passed bill SB 21 proposing a state Bitcoin reserve, now advancing to the House of Representatives.
- The legislation aims to establish a state-managed investment fund focused on Bitcoin and other high-market-cap cryptocurrencies.
- Texas joins several other U.S. states exploring cryptocurrency holdings through legislative initiatives.
Texas lawmakers have taken a significant step toward establishing the Lone Star State as a cryptocurrency pioneer by advancing legislation for a state Bitcoin reserve. The Texas Senate voted Thursday to approve SB 21, a bill that would create a strategic cryptocurrency investment fund managed by the state government.
The proposed legislation specifically targets Bitcoin as a primary investment asset, while also including provisions for other cryptocurrencies with substantial market capitalization. This state-managed fund would position Texas among the first U.S. states to formally hold digital assets as part of its financial strategy.
With Senate approval secured, the bill now moves to the Texas House of Representatives, where it faces another round of legislative scrutiny before potentially becoming law. The initiative reflects growing institutional interest in cryptocurrency beyond traditional financial centers.
Texas isn’t operating in isolation, as several other states across the nation are pursuing similar legislative avenues to incorporate Bitcoin and alternative digital currencies into their financial holdings. These initiatives represent an emerging trend of government entities exploring cryptocurrency as a potential store of value and investment opportunity.
Editor’s note: This is a breaking news story and will be updated.
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