Texas Takes a Big Step into the World of Cryptocurrency
The Texas Senate has made a big decision – they’ve passed a bill to start a special Bitcoin reserve! This is a really important step because it’s one of the first times a state has shown such big support for cryptocurrency.
What’s the Bill About?
The bill is called Senate Bill 21 (SB 21) and was suggested by State Senator Charles Schwertner. It was passed on March 6, 2025, with a vote of 25-5[1][3]. At first, the bill was only about Bitcoin, but later it was changed to include other cryptocurrencies that are worth at least $500 billion[2][5].
Why is Texas Doing This?
People who support the bill think that having a Bitcoin reserve can help Texas’ finances. They say it’s like having a safety net for when the economy might not be doing so well. Senator Schwertner thinks that Bitcoin, which some people call “digital gold,” can help make Texas’ money stronger by adding something new to their financial mix[1][3]. Some people also think it’s a way to show that Texas doesn’t agree with the way the federal government is handling money[2].
What’s Happening in the Rest of the Country?
The Texas Senate’s decision comes at a time when more people in the country are talking about using Bitcoin. Even the President, Donald Trump, has said he thinks it’s a good idea to have a federal Bitcoin reserve[3]. If Texas can make this work, other states might follow and change the way money works across the country.
What Challenges Might There Be?
Even though many people support the bill, there are some challenges. The reserve would need money to start, and Senator Schwertner thinks they might need around $20 million for the next two years[2]. Also, it’s not sure if the bill will be passed in the Texas House. But if it is, Texas could become a leader in using cryptocurrency, which might bring more people and businesses to the state.
A Big Step into the Future
The Texas Senate’s decision to pass SB 21 is a really big deal. By saying they want to use Bitcoin and maybe other cryptocurrencies, Texas is showing that it wants to be at the forefront of new ways to handle money. Now, everyone will be watching to see if Texas can make this special reserve work, which could show other states how to do it too.
—
Sources:
– Cointelegraph
– Quorum Report
– Bitcoin Magazine
– Sky News
– U.Today