Texas Lawmakers Reintroduce Bill For Strategic Bitcoin Reserve

According to Odaily, Texas lawmakers have reintroduced a bill aimed at establishing a strategic Bitcoin reserve, now designated as SB 21, which permits investment in additional cryptocurrencies. Senator Charles Schwertner announced the bill on February 12, highlighting its potential to make Texas the first state to establish a cryptocurrency reserve, potentially fostering innovation and financial freedom. This new legislation builds on SB 778, introduced in January, which primarily focused on Bitcoin. While SB 778 restricted the state government to purchasing and holding Bitcoin without using it for other operations, SB 21 expands the scope to allow investment in cryptocurrencies maintaining a market value of at least $500 billion throughout the year. Currently, Bitcoin is the only cryptocurrency meeting this criterion.