Today, the Senate of Texas has approved SB 21, a bill aimed at creating a strategic Bitcoin reserve for the state, with a vote of 25-5. The bill will now advance to Texas House for further considerations.
The lieutenant governor of Texas Dan Patrick identified SB 21 as a priority bill for the legislative session of 2025 last January. The bill aims to position Texas as a leader in the adoption of Bitcoin by establishing a reserve of BTC, which supporters support will serve as a cover against economic instability and inflation.
The support for the bill was evident during an audition of February 18 detained by the Texas Senate Committee for businesses and trade. The hearing has attracted numerous Bitcoin supporters, including Pierre Rochard of Riot platforms, the largest Bitcoin mining company in North America. Speaking in favor of the bill, Rochard said: “Bitcoin will continue to accumulate long -term value, so now it is the perfect time to make a strategic investment”.
The Senate Committee for businesses and the president of the trade Charles Schwertner also underlined the growing role of Bitcoin in financial markets, affirming: “Bitcoin, mentioned as digital gold by the United States Treasury, has become a resource recognized in financial markets”.
The passage of the bill in the Senate comes in the midst of a growing national interest in Bitcoin reserves. A few days ago, President Donald Trump announced that the United States would create a federal bitcoin reserve. President Trump should provide further details on the Federal Bitcoin Reserve during the next summit of digital resources to the White House tomorrow, based on the comments of the Secretary of Commerce Howard Lutnick yesterday. Lutnick said that an official announcement is scheduled to say soon, affirming: “A strategic reserve of Bitcoin is something that the president is interested. He talked everything about it during the campaign course and I think you will see him executed on Friday”.
While SB 21 moves to the Texas house, all eyes concern if Texas will be successfully established as a leader in the adoption of Bitcoin at state level. If exceeded, Texas could become the first state of the United States to officially keep Bitcoin as part of its financial strategy, creating a precedent for other states to follow.
SB 21 is approaching the finish line for being officially signed in law. Other updates on the State of SB 21 and other Bitcoin Reserve legislation in the United States are also available on Bitcoin laws.