Ahsraful007

The Texas Senate has recently passed Senate Bill 21 (SB-21), aiming to establish a strategic Bitcoin reserve for the state. Introduced by Senator Charles Schwertner, the bill received bipartisan support, passing with a 25-5 vote on March 6, 2025. Lieutenant Governor Dan Patrick endorsed the bill, stating that creating the Texas Bitcoin Reserve positions the state as a leader in the digital age. He referred to Bitcoin as "digital gold," highlighting its limited supply and decentralized nature as critical assets for Texas' future. The bill proposes that the Texas Comptroller administer the reserve, allowing the state to invest in Bitcoin and other cryptocurrencies with a market capitalization of at least $500 billion. This initiative aligns with President Donald Trump's national push for a U.S. Crypto Strategic Reserve, which includes Bitcoin, Ether, ADA, SOL, and XRP. However, the proposal has faced criticism. Some argue that investing taxpayer money in volatile assets like Bitcoin could be risky and may primarily benefit the cryptocurrency industry rather than the public. Concerns have also been raised about the lack of detailed information regarding costs and safeguards associated with managing such a reserve. With the Senate's approval, SB-21 will now proceed to the Texas House for further consideration. If enacted, Texas would become the first U.S. state to establish a digital asset strategic reserve. #TexasBTCReserveBill #Trump’sExecutiveOrder $BTC