Bitcoin: Texas Approves Strategic Reserve Bill

Texas Senate Passes Strategic Bitcoin Reserve Bill

• The Texas Senate passed the SB 21 Bill with a vote of 101-42.
• The Bill proposes creating a Texas Strategic Bitcoin Reserve.
• Governor Greg Abbott, a Bitcoin supporter, is expected to sign the Bill into law.
• The Reserve will invest in cryptocurrencies with a market cap of at least $500 billion, currently only met by Bitcoin.
• An amendment requires the market cap average to be over 24 months instead of 12 months.

The Texas Senate’s passage of the SB 21 Bill by a vote of 101-42 moves it closer to becoming law, pending Governor Greg Abbott’s expected approval. The Bill aims to establish a state-managed Bitcoin reserve.