Bitcoin Magazine
Texas Strategic Bitcoin Reserve Bill Passes The Senate
Today, the Texas Senate has passed SB 21, a bill aimed at creating a strategic Bitcoin reserve for the state, by a vote of 25-5. The bill will now advance to the Texas House for further consideration.
Texas Lieutenant Governor Dan Patrick identified SB 21 as a priority bill for the 2025 legislative session this past January. The bill aims to position Texas as a leader in Bitcoin adoption by establishing a reserve of BTC, which proponents argue will serve as a hedge against economic instability and inflation.
Support for the bill was evident during a February 18 hearing held by Texas’ Senate Committee on Business and Commerce. The hearing drew numerous Bitcoin advocates, including Pierre Rochard of Riot Platforms, North America’s largest Bitcoin mining company. Speaking in favor of the bill, Rochard stated, “Bitcoin will continue to accrue long-term value, so now is the perfect time to make a strategic investment.”
Senate Committee on Business and Commerce Chairman Charles Schwertner also emphasized Bitcoin’s growing role in financial markets, saying, “Bitcoin, referenced as digital gold by the US Treasury, has become a recognized asset in the financial markets.”
The bill’s passage in the Senate comes amid growing national interest in Bitcoin reserves. Just days ago, President Donald Trump announced that the United States would be creating a federal Bitcoin reserve. President Trump is expected to provide further details on the federal Bitcoin reserve during the upcoming Digital Assets Summit at the White House tomorrow, based on Commerce Secretary Howard Lutnick’s comments yesterday. Lutnick said that an official announcement is expected soon, stating, “A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday.”
As SB 21 moves to the Texas House, all eyes are on whether Texas will successfully establish itself as a leader in Bitcoin adoption at the state level. If passed, Texas could become the first U.S. state to officially hold Bitcoin as part of its financial strategy, setting a precedent for other states to follow.
SB 21 is getting close to the finish line of becoming officially signed into law. More updates on the status of SB 21 and other U.S. Bitcoin reserve legislation can also be found on Bitcoin Laws.
This post Texas Strategic Bitcoin Reserve Bill Passes The Senate first appeared on Bitcoin Magazine and is written by Nik.
Full story here:
Texas Strategic Bitcoin Reserve Bill Passes The Senate
Today, the Texas Senate has passed SB 21, a bill aimed at creating a strategic Bitcoin reserve for the state, by a vote of 25-5. The bill will now advance to the Texas House for further consideration.
JUST IN:Texas Strategic Bitcoin Reserve legislation SB 21 PASSES the Senate. pic.twitter.com/NahQC7z63K
— Bitcoin Magazine (@BitcoinMagazine) March 6, 2025
Texas Lieutenant Governor Dan Patrick identified SB 21 as a priority bill for the 2025 legislative session this past January. The bill aims to position Texas as a leader in Bitcoin adoption by establishing a reserve of BTC, which proponents argue will serve as a hedge against economic instability and inflation.
Support for the bill was evident during a February 18 hearing held by Texas’ Senate Committee on Business and Commerce. The hearing drew numerous Bitcoin advocates, including Pierre Rochard of Riot Platforms, North America’s largest Bitcoin mining company. Speaking in favor of the bill, Rochard stated, “Bitcoin will continue to accrue long-term value, so now is the perfect time to make a strategic investment.”
JUST IN – Riot Platform's Pierre Rochard to the Texas State Senate: "Bitcoin will continue to accrue long term value, so now is the perfect time to make a strategic investment."pic.twitter.com/45wBBS5TlV
— Bitcoin Magazine (@BitcoinMagazine) February 18, 2025
Senate Committee on Business and Commerce Chairman Charles Schwertner also emphasized Bitcoin’s growing role in financial markets, saying, “Bitcoin, referenced as digital gold by the US Treasury, has become a recognized asset in the financial markets.”
JUST IN:Texas Senate holds public hearing on Strategic Bitcoin Reserve legislation
"Bitcoin, referenced as digital gold by the US Treasury, has become a recognized asset in the financial markets." pic.twitter.com/g13UXMtNjM
— Bitcoin Magazine (@BitcoinMagazine) February 18, 2025
The bill’s passage in the Senate comes amid growing national interest in Bitcoin reserves. Just days ago, President Donald Trump announced that the United States would be creating a federal Bitcoin reserve. President Trump is expected to provide further details on the federal Bitcoin reserve during the upcoming Digital Assets Summit at the White House tomorrow, based on Commerce Secretary Howard Lutnick’s comments yesterday. Lutnick said that an official announcement is expected soon, stating, “A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday.”
As SB 21 moves to the Texas House, all eyes are on whether Texas will successfully establish itself as a leader in Bitcoin adoption at the state level. If passed, Texas could become the first U.S. state to officially hold Bitcoin as part of its financial strategy, setting a precedent for other states to follow.
SB 21 is getting close to the finish line of becoming officially signed into law. More updates on the status of SB 21 and other U.S. Bitcoin reserve legislation can also be found on Bitcoin Laws.
This post Texas Strategic Bitcoin Reserve Bill Passes The Senate first appeared on Bitcoin Magazine and is written by Nik.
Full story here:
![[DK]](/data/avatars/s/57/57999.jpg?1720990206){kind=avatar}
