Texas Senate Bill 21 (SB-21), establishing a Bitcoin and cryptocurrency strategic reserve, handed the Texas Senate Banking Committee on Feb. 27 in a 9–0 vote and now advances to the Senate floor for additional deliberation.
The bill offers the Texas Comptroller of Public Accounts the authority to purchase, promote and commerce any funding “{that a} prudent investor exercising affordable care, talent, and warning would purchase.” The bill additionally learn:
“Bitcoin and different cryptocurrencies can function a hedge towards inflation and financial volatility, and the institution of a strategic bitcoin reserve serves the general public goal of offering enhanced monetary safety to residents of this state.”
A number of US states have pending Bitcoin (BTC) strategic reserve payments, together with Oklahoma, Arizona and Utah, to diversify state monetary reserves and hedge towards rising US greenback inflation.
Web page one among SB-21 establishing a Bitcoin and digital asset reserve. Supply: Texas State Senate
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The Texas strategic Bitcoin reserve laws was introduced by State Senator Charles Schwertner in January 2025 as a Bitcoin-only bill that omitted the acquisition of different digital property.
Nonetheless, in February 2025, the bill was refiled to include other digital assets following US President Donald Trump’s Jan. 23 executive order directing a fee to research the feasibility of a “digital asset stockpile.”
President Trump indicators an government order on cryptocurrencies. Supply: The White House
Nexo analyst Iliya Kalchev instructed Cointelegraph that the Feb. 18 public hearing for SB-21 was symbolic and was not a serious BTC adoption or value catalyst.
Kalchev added that except particular insurance policies had been enacted — just like the state of Texas actively buying BTC as a part of its portfolio — the markets would have a lukewarm response to the information.
Pierre Rochard, a Bitcoin advocate and vice chairman of analysis at mining firm Riot Platforms, testified on the listening to for SB-21, arguing for a BTC strategic reserve.
The manager stated that whereas Texas at present has a flourishing financial system, it have to be ready for future financial downturns and financial uncertainty.
“Public belief and monetary establishments have eroded due to a scarcity of transparency, however Bitcoin is a singular asset as a result of it’s absolutely auditable,” the chief added.
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