US EditionTexas' Strategic Bitcoin Reserve Passes House, Awaits Governor Sign-Off
- On Wednesday, the Texas House of Representatives approved Senate Bill 21 with a 101-42 vote, which seeks to establish a Strategic Bitcoin Reserve; the measure now requires Senate concurrence and the governor’s signature to become law.
- Building on New Hampshire’s precedent of a state-controlled Bitcoin reserve, this bill expands eligibility to cryptocurrencies that have sustained a market valuation of at least $500 billion for a continuous two-year period.
- The reserve, managed by the state comptroller with advisory input, intends to invest public funds as a hedge against inflation and recognizes digital assets as a strategic opportunity.
- Representative Giovanni Capriglione said the bill aims to acknowledge digital assets “not as a trend but as a strategic opportunity,” emphasizing fiscal resilience for Texas.
- If Governor Greg Abbott signs the bill into law, Texas will join New Hampshire as one of the few states officially creating a government-managed Bitcoin reserve, highlighting continued pro-cryptocurrency initiatives despite some criticism.
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36 Articles
Texas Set to Create State Bitcoin Reserve that Would Accept Private Donations
The State of Texas is set to get into the cryptocurrency investment game as the Texas House passed a Senate bill on Wednesday to create a “Strategic Bitcoin Reserve” that could use millions of taxpayer dollars to purchase cryptocurrency. Senate Bill 21 will—assuming Senate concurrence and the governor’s sign-off—establish a new government investment fund through which the state comptroller and a team of appointed advisors have broad discretion …
Texas House Passes Bill to Create Bitcoin Reserve - CryptoShrypto
Texas House of Representatives has passed the third reading of Senate Bill 21 (SB 21), a bill aimed at establishing a state-managed Bitcoin reserve. The bill passed with a 101-42 vote and now heads to Governor Greg Abbott for approval or veto. Authored by state Senator Charles Schwertner, SB 21 authorizes the Texas Comptroller to invest in cryptocurrencies with a market capitalization exceeding $500 billion over the past 12 months. Currently, Bi…
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