Today, the Senate in Texas SB 21, a draft law aimed at establishing a strategic bitcoin reserve for the state, has approved the vote of 25-5. The draft law now will come to Texas's home for more study.
Texas Governor Dan Patrick It was identified SB 21 as a draft priority law for the 2025 legislative session last January. The draft law aims to place Texas as a leader in the adoption of Bitcoin by creating BTC reserves, which supporters argue that it will be a hedge against economic instability and inflation.
Supporting the draft law was clear during a hearing on February 18th held by the Senate Committee in Texas for Business and Trade. The session attracted many Bitcoin advocates, including Pierre Rochard of Riot Protects, the largest bitcoin mining company in North America. Speaking in favor of the draft law, Rothard said, “Bitcoin will continue to accumulate long -term value, so the perfect time now is the perfect time to make a strategic investment.”
Only in – Pierre Rohard from the riot platform to the Senate in Texas: “Bitcoin will continue to accumulate long -term value, so it has become the perfect time for strategic investment.”
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Bitcoin (PitcoinMagazine) Magazine February 18, 2025
Charles Chounerner, Chairman of the Business and Trade Senate Committee, stressed the increasing role of bitcoin in financial markets, saying: “Bitcoin, which is referred to with digital gold by the US Treasury, has become a recognized advantage in the financial markets.”
Only in:
“Bitcoin, referred to with digital gold by the US Treasury, has become a recognized advantage in the financial markets.” pic.twitter.com/g13uxmtnjm
Bitcoin (PitcoinMagazine) Magazine February 18, 2025
The draft law clip in the Senate comes amid an increasing national interest in bitcoin reserves. Just a few days ago, President Donald Trump Declare The United States will create a federal bitcoin reserve. President Trump is expected to provide further details about the Bitcoin Federal Reserve during the upcoming digital assets summit at the White House tomorrow, based on the comments of Minister of Trade Howard Lootnick yesterday. Lootnick He said The official announcement is expected to be soon, saying: “Bitcoin's strategic reserve is something that the president is interested in.
With SB 21 moved to Texas's house, all eyes revolve whether Texas will successfully establish itself as a leader in the state's bitcoin adopting at the state level. If it is approved, Texas may become the first American state to officially retain Bitcoin as part of its financial strategy, putting a precedent for other states to follow up.
SB 21 is approaching the finish line for officially signing the law. More updates can also be found about SB 21 and others Bitcoin laws.
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