Texas lawmaker reintroduces Bitcoin reserve bill, expanding it to include other cryptocurrencies

2025-02-14 13:54:44

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ChainCatcher news, according to Jinshi reports, Texas lawmakers have reintroduced a bill aimed at establishing a strategic Bitcoin reserve, now designated as SB 21, which allows for investments in additional cryptocurrencies.

Senator Charles Schwertner announced the bill on February 12, emphasizing that it will make Texas the first state to establish a cryptocurrency reserve, potentially driving innovation and "financial freedom." This new legislation builds on SB 778, the previous bill introduced in January this year, which primarily focused on Bitcoin.

The SB 778 bill restricted the state government to only purchase and hold Bitcoin, without allowing it to be used for other operations, while the SB 21 bill expands the scope to allow investments in cryptocurrencies that maintain a market value of at least $500 billion for a year. However, currently, Bitcoin is the only cryptocurrency that meets this standard.

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Bitcoin Reserve Act SB 778 Act

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