Texas Senate Approves Bitcoin Strategic Reserve Bill

According to Cointelegraph, the Texas Senate has approved the Bitcoin (BTC) strategic reserve bill SB-21 with a 25-5 vote on March 6, 2025. The legislation, initially introduced by Texas State Senator Charles Schwertner in January 2025, aims to bolster the state's financial stability by incorporating Bitcoin as a valuable and scarce asset into its balance sheet. Senator Schwertner advocated for the bill, emphasizing its potential to enhance Texas's financial standing without posing a threat to the U.S. dollar's status as a global reserve currency. Lawmakers compared Bitcoin to gold, highlighting its role as a complementary asset rather than a competitor to the dollar. Originally, the bill focused solely on Bitcoin, but it was revised in February 2025 to include other digital assets. This amendment followed an executive order by U.S. President Donald Trump on January 23, 2025, which called for a commission to explore the feasibility of creating a digital asset stockpile. The passage of SB-21 marks a significant step in Texas's approach to digital assets, reflecting a growing interest in integrating cryptocurrencies into state-level financial strategies. As this story develops, further updates will be provided.