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Will Texas Use Bitcoin as Official Reserve? Legislative Process Has Begun - Coin Bulletin
Texas Deputy Governor Dan Patrick has announced his 2025 legislative priorities, which include a plan to establish the Texas Bitcoin Reserve.
With this move, Texas became one of several US states planning to establish Bitcoin or crypto reserves.
In states like Arizona and Utah, similar bill proposals pass through committees, while in Texas, two officials also introduced a bill to create Bitcoin reserves. The latest effort came from state senator Charles Schwertner on January 16th. Schwertner stated, "The Texas Bitcoin reserve will make our state a leader in the digital economy, accelerate growth, and secure our economic freedom."
Texas Could Be the New Hub of Bitcoin
Texas is known as one of the prominent regions in the US in terms of Bitcoin mining and blockchain innovations. The state's energy policies and low electricity costs are attracting mining companies to Texas. The Bitcoin reserve plan is interpreted as a way to strengthen Texas's leadership in this field.
In recent years, while the legal framework regarding cryptocurrencies has been a topic of discussion in the US, Texas taking such a step could set an example for other states. If the law is approved, Texas could be one of the first states to hold official Bitcoin reserves.