Texas Senate Approves Bitcoin Reserve Bill Stocks Surge

The Texas Senate has made a significant move in the digital asset realm by approving Senate Bill No. 21, which aims to establish a state-run Bitcoin reserve. This bill, passed with a majority vote of 25-5, is set to be reviewed by the Texas House of Representatives before it can become law. The proposed legislation requires executive approval from the Texas governor to take effect.

The reserve, as outlined in the bill, will hold Bitcoin and other top cryptocurrencies with a minimum market capitalization exceeding $500 billion. Supporters of the measure believe it will strengthen Texas' position in the digital financial economy. The bill also proposes the creation of an advisory committee to monitor the reserve, which will present investment recommendations to the state comptroller for approval. The system will undergo periodic evaluations and audits every two years to ensure honest operation and transparency.

Senator Charles Schwertner, a key proponent of the bill, views the reserve as crucial for Texas to expand its investment portfolio and access the rapidly growing digital economy sector. He predicts that this decision will bring lasting financial advantages to the state. The Senate's approval of the bill indicates strong legislative support, and the Texas House now holds the responsibility to evaluate the proposed legislation. If approved, Texas will become the first state in America to manage such a digital fund, potentially sparking similar cryptocurrency initiatives across other states.

While many applaud the decision for its potential to drive cryptocurrency adoption, there are also concerns among state officials regarding the risks associated with the new bill. The Texas House stands as the final checkpoint in determining the fate of this legislation. Approval by the Texas House would position the state at the forefront of integrating cryptocurrency within its investment systems, attracting attention and observation from various stakeholders.

The approval of Senate Bill No. 21 by the Texas Senate marks a pivotal moment in the digital asset landscape. By establishing a state-run Bitcoin reserve, Texas is not only embracing cryptocurrency but also setting a precedent for other regions to explore similar initiatives. The bill, passed on March 7, 2025, allows the state to direct public funds toward Bitcoin and other digital assets, positioning Texas as a leader in the adoption and integration of cryptocurrency. This move is expected to attract more investment and innovation in the sector, showcasing the potential of digital currencies as a viable investment option and paving the way for mainstream acceptance.