Texas strategic Bitcoin Reserve legislation Bill SB 21 was officially approved today in the State Senate Committee. The Senate was the last step for the Bitcoin bill to become official in the state of Texas.
Just in: 🇺🇸 Bitcoin Reserve Bill SB21 passes in the Texas Senate. pic.twitter.com/kstffxuvqv
– watcher.guru (@watcherguru) March 6, 2025
SB-21 contours A comprehensive framework for the establishment and administration of Texas Strategic Bitcoin Reserve. The reserve should be formed as a special fund outside the Treasury, which gives the greater autonomy and flexibility in investment strategies. The fund’s composition includes legislative grants, dedicated revenues, purchased Cryptocurrencies, investment results and donations. Noteworthy, all acquired Cryptocurrency must have an average market value of at least $ 500 billion over the previous 12 months, which ensures the reserve’s focus on established digital assets.
Also read: Bitcoin Reserve Strategy which will be announced by US President Trump
Texas is really not alone, as a number of American states have tried to establish their own Bitcoin reserves. In January, Oklahola introduced legislation to create a bitcoin reserve. In addition, Massachusetts followed and made similar plans. President Trump has not yet started a BTC reserve formally, but his crypto team is in conversation about developing it. In addition, Trump announced the launch of a crypto layer that will constitute a variety of digital assets.
The approval of Texas Strategic Bitcoin Reserve comes when BTC picks up speed this week. Over the past seven days, leading Cryptocurrency has increased by 4%and itching to return to $ 90,000.
