Texas Lawmaker Reintroduces Bill For Bitcoin Strategic Reserve

According to Foresight News, Texas State Senator Charles Schwertner has reintroduced a bill aimed at establishing a strategic reserve for Bitcoin, with provisions to expand investments to other cryptocurrencies. The proposed legislation, SB 778, restricts the state government to purchasing and holding Bitcoin without using it for other operations. Meanwhile, SB 21 broadens the scope, allowing investments in cryptocurrencies that maintain a market value of at least $500 billion throughout the year. Currently, Bitcoin is the only cryptocurrency meeting this criterion. The previous version of the bill, introduced in January, focused primarily on Bitcoin.