{"id":50190,"date":"2025-03-06T19:35:14","date_gmt":"2025-03-06T19:35:14","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=50190"},"modified":"2025-03-06T19:35:14","modified_gmt":"2025-03-06T19:35:14","slug":"texas-strategic-bitcoin-reserve-bill-passes-the-senate","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=50190","title":{"rendered":"Texas Strategic Bitcoin Reserve Bill Passes The Senate"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Texas Strategic Bitcoin Reserve Bill Passes The Senate<\/a><\/p>\n

<\/div>\n

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.<\/p>\n

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JUST IN: Texas Strategic Bitcoin Reserve legislation SB 21 PASSES the Senate. pic.twitter.com\/NahQC7z63K<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) March 6, 2025<\/a>\n<\/p><\/div>\n

Texas Lieutenant Governor Dan Patrick identified<\/a> 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<\/a> adoption by establishing a reserve of BTC, which proponents argue will serve as a hedge against economic instability and inflation.<\/p>\n

Support for the bill was evident during a February 18 hearing held by Texas\u2019 Senate Committee on Business and Commerce. The hearing drew numerous Bitcoin advocates, including Pierre Rochard of Riot Platforms, North America\u2019s largest Bitcoin mining company. Speaking in favor of the bill, Rochard stated, \u201cBitcoin will continue to accrue long-term value, so now is the perfect time to make a strategic investment.\u201d<\/p>\n

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JUST IN \u2013 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<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) February 18, 2025<\/a>\n<\/p><\/div>\n

Senate Committee on Business and Commerce Chairman Charles Schwertner also emphasized Bitcoin\u2019s growing role in financial markets, saying, \u201cBitcoin, referenced as digital gold by the US Treasury, has become a recognized asset in the financial markets.\u201d<\/p>\n

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JUST IN: Texas Senate holds public hearing on Strategic Bitcoin Reserve legislation <\/p>\n

“Bitcoin, referenced as digital gold by the US Treasury, has become a recognized asset in the financial markets.” pic.twitter.com\/g13UXMtNjM<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) February 18, 2025<\/a>\n<\/p><\/div>\n

The bill\u2019s passage in the Senate comes amid growing national interest in Bitcoin reserves. Just days ago, President Donald Trump announced<\/a> that the United States would be creating a federal Bitcoin<\/a> 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\u2019s comments yesterday. Lutnick said<\/a> that an official announcement is expected soon, stating, \u201cA Bitcoin strategic reserve is something the President\u2019s interested in. He spoke about it all during the campaign trail, and I think you\u2019re going to see it executed on Friday.\u201d<\/p>\n

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.<\/p>\n

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<\/a>.<\/p>\n

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Texas Bitcoin Reserve Bill SB21 now moves to the House. <\/p>\n

Not at the finish line quite yet. pic.twitter.com\/qc0myg0H2C<\/a><\/p>\n

\u2014 Bitcoin Laws (@Bitcoin_Laws) March 6, 2025<\/a>\n<\/p><\/div>\n

This post Texas Strategic Bitcoin Reserve Bill Passes The Senate<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Nik<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

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. JUST IN: Texas Strategic Bitcoin Reserve legislation SB […]<\/p>\n","protected":false},"author":0,"featured_media":50191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-50190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50190"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50190"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/50191"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}