Texas, USA will hold its first public hearing on February 18 to discuss the establishment of a Bitcoin reserve

2025-02-17 08:49:58

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ChainCatcher news, according to Cointelegraph, the Texas state government website announced that the first public hearing regarding the establishment of a potential strategic Bitcoin reserve in Texas is scheduled for February 18, less than a week after the Senate secretary received the bill.

According to Iliya Kalchev, a scheduling analyst at the cryptocurrency lending platform Nexo, this hearing may just be a "symbolic action" for the cryptocurrency market.

Kalchev stated, "Texas considering Bitcoin as a reserve asset is another step in Bitcoin's journey toward institutional legitimacy, but compared to the inflow of ETFs or the allocation of corporate treasuries, state-level initiatives often only create ripples rather than waves. Unless the hearing announces a recent purchasing plan or a significant policy shift, the market's reaction may be relatively mild, as Texas's supportive stance on cryptocurrency is already well known."

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