Texas Senate Passes BTC Strategic Reserve Bill, Poised to Become First in the U.S.

The Texas Senate passed the BTC Strategic Reserve Bill SB-21 yesterday with 25 votes in favor and 5 against, aiming to include BTC in the state government's assets as a hedge against inflation and economic uncertainty. Currently, a total of 32 similar bills have been proposed in 24 states across the U.S., but Texas may become the first state to actually implement a digital asset strategic reserve.

Texas BTC Reserve Bill Passed Senate Review

The document states that Texas Senator Charles Schwertner led and promoted the bill, emphasizing in the Senate debate that BTC is a scarce value asset that can strengthen Texas' financial situation: 'We no longer hoard paper money like in the Middle Ages, now we have digital currency.'

As a strong supporter of Bitcoin, he pointed out that BTC is not a competitor to the US dollar, but more similar to gold, as a tool to fight inflation:

Due to the intervention and manipulation of the central bank in the currency supply, the purchasing power of the US Dollar is declining, which has led to a loss of confidence in the USD among the public.

However, the bill still needs to be signed by the governor to take effect officially, at which time Texas will become the first state in the United States to establish a strategic reserve of digital assets.

(BTC has become a new darling of reserves in many states in the United States, with Oklahoma, Texas, and Pennsylvania successively promoting legislation )

The content of the bill has been revised to include other digital assets

The bill initially only covered BTC when it was introduced in January, but after revisions in February, it was expanded to include other digital assets. This change was due to multiple public statements by U.S. President Trump that he would explore the feasibility of establishing a 'digital asset reserve' and openly indicated that it might cover multiple cryptocurrencies.

(Trump's Crypto Hegemony: From meme coin hype to strategic reserves, a national-level wealth harvesting plan)

The shift in policy indicates that state governments are actively considering digital assets as part of their financial reserves, not just limited to Bitcoin.

States and countries are promoting BTC reserves, or promoting the increase of BTC market value by hundreds of billions of dollars

With several states in the United States considering using public funds to invest in cryptocurrencies, asset management company VanEck previously estimated that if these state-level BTC reserve bills are passed, it could bring in as much as $23 billion into the market.

Furthermore, at the national level, in recent times, from Bhutan, Switzerland to the Czech Republic, there have been indications of intending to provide tax incentives to cryptocurrency holders, or considering including BTC in reserves; it is expected to trigger a further trend of asset allocation worldwide, with governments, states and counties, or financial institutions as the units.

Trump confirms establishment of US Bitcoin strategic reserve

This morning, Trump officially established the 'Strategic Bitcoin Reserve (' and the 'U.S. Digital Asset Stockpile )' by signing executive orders, requiring the U.S. Treasury Department to manage this national reserve asset, which will primarily be acquired through federal government criminal or civil forfeiture procedures.

(Detailed explanation of Trump's BTC executive order: the United States establishes a strategic BTC reserve, the Treasury Department and the Department of Commerce have the right to purchase BTC)

It is reported that the Ministry of Finance and the Ministry of Commerce will be responsible for formulating a budget-neutral strategy to obtain additional Bitcoin without incurring additional costs to American taxpayers.

As for other digital asset inventories, resources will also come from digital assets confiscated by the government, and the Minister of Finance has the authority to decide whether to sell these assets.

The White House will hold a cryptocurrency summit

Tonight, the White House will host a cryptocurrency summit, where more details about the national cryptocurrency reserve plan may be announced. It is still uncertain whether other tokens such as Ethereum, Solana, XRP, and ADA that have been mentioned can truly be included in the reserve assets.

(The selection of XRP and ADA will make Trump's US crypto reserves lose credibility, and BTC is the only choice?)

This article Texas Senate has passed the BTC Strategic Reserve Bill in advance, which is expected to become the first in the United States. Originally appeared on Chain News ABMedia.