Texas Strategic Bitcoin Reserve Bill is progressing to definitive approval

The Texas House of Representatives has erased the second reading of the strategic Bitcoin Reserve Bill (SB 21), moving the state a step closer to the official arrival of the crypto room. The bill aims to create the “Texas Strategic Bitcoin Reserve”, so that the state in Bitcoin could invest as part of its financial strategy. With the Senate already on board, the proposal is now awaiting the final approval of the governor. The 8th largest economy in the world can now buy Bitcoin. This is indeed a bullish start!

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Groundwork

Although SB 21 does not specify how much bitcoin the state will buy, it draws up the legal basis to start. According to the Texas Blockchain Council, the bill is planned for a vote in the house and, if assumed, a historic step towards Bitcoin adoption at the level of the state.

Texas follows in the footsteps of President Trump by calling for a National Bitcoin reserve. However, other states such as New Hampshire and Arizona have already taken similar measures, beating Texas in the race to lead our crypto integration.

What is the following?

Lee Bratcher of the Texas Blockchain Council told Axios that although SB 21 draws up the reserve, a separate legislation is being prepared to decide how much bitcoin the state will actually assign to the fund. However, that decision will be dealt with.

If signed by the law, Texas could soon become an important player in Bitcoin investments supported by the government, which further confirms the pro-Crypto attitude of the state.

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