Texas lawmakers have passed a groundbreaking bill, Senate Bill 21, to create a state-run Bitcoin reserve, with only a final procedural vote remaining before it becomes law. The bill has gained bipartisan support, passing the House of Representatives with a vote of 101-42. It aims to integrate Bitcoin into the state's treasury management. Opponents have expressed concerns leading up to the vote and amendments were made to extend the market capitalization period required for Bitcoin investments from 12 to 24 months. The fiscal impact of the reserve remains uncertain as it’s unclear how much cryptocurrency will be purchased or the appropriations required. If signed into law, Texas will follow New Hampshire as the second state to officially maintain Bitcoin reserves, reflecting a growing trend of state-level acceptance of cryptocurrency. The bill's proponents argue it represents a forward-thinking strategy for financial management in the state.

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