{"id":837428,"date":"2025-03-28T17:12:22","date_gmt":"2025-03-28T22:12:22","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/28\/texas-senate-passes-bill-enabling-bitcoin-investments-with-public-funds\/"},"modified":"2025-03-28T17:12:22","modified_gmt":"2025-03-28T22:12:22","slug":"texas-senate-passes-bill-enabling-bitcoin-investments-with-public-funds","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/28\/texas-senate-passes-bill-enabling-bitcoin-investments-with-public-funds\/","title":{"rendered":"Texas senate passes bill enabling Bitcoin investments with public funds"},"content":{"rendered":"

Bitcoins <\/p>\n

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\"bitcoins Texas senate passes bill enabling Bitcoin investments with public funds<\/span> Assad Jafri \u00b7<\/span> 3 weeks ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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Texas leads charge in cryptocurrency investments with senate passing bill endorsing Bitcoin as reserve asset.<\/p>\n

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2 min read<\/span><\/p>\n

Updated:<\/span> Mar. 6, 2025 at 10:16 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n

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Texas has moved a step closer to holding Bitcoin (BTC<\/a>) as a reserve asset, with the state senate passing a bill on March 6 that would allow public funds to be allocated to digital assets.<\/p>\n

The decision places Texas at the forefront of a growing trend among states exploring crypto investments following President Donald Trump\u2019s<\/a> call for a federal strategic crypto reserve.<\/p>\n

Bitcoins State-level momentum<\/h2>\n

The Texas bill, SB 21, would permit the state to invest in Bitcoin, a move its sponsor, Senator Charles Schwertner, described as a hedge against inflation and financial instability. Schwertner argued that Bitcoin has repeatedly proven its resilience through economic cycles, making it a viable reserve asset.<\/p>\n

New Hampshire also advanced its own legislation this week. On March 5, a state house committee approved House Bill 302 by a 16-1 vote, paving the way for the state to invest up to 5% of public funds in bitcoin and precious metals. The bill now awaits a full vote in the state legislature.<\/p>\n

Meanwhile, Utah is running out of time to finalize a similar proposal<\/a>. The state\u2019s legislative session ends on March 7, and its bill \u2014 already passed by the state house \u2014 still awaits a vote in the Senate.<\/p>\n

If approved, it would allow Utah to allocate public funds to digital assets valued at over $500 billion in market capitalization, a criterion that currently applies only to Bitcoin. Governor Spencer Cox, a Republican who has previously supported blockchain initiatives, would then decide whether to sign it into law.<\/p>\n

Bitcoins Federal crypto reserve<\/h2>\n

The surge in state-level crypto legislation follows Trump\u2019s renewed push for a national crypto reserve<\/a>, which he announced on social media on March 2. The US President outlined a plan that could include digital assets beyond Bitcoin.<\/p>\n

Industry leaders have largely pushed back<\/a> against including multiple cryptocurrencies, arguing that Bitcoin alone has the characteristics necessary for a reserve asset comparable to gold.<\/p>\n

Uncertainty remains over how the government would source or manage such a portfolio, and no formal policy framework has been proposed.<\/p>\n

With some states moving aggressively toward bitcoin adoption and others facing legislative roadblocks, the debate over cryptocurrency\u2019s role in public finance is expected to intensify in the coming months.<\/p>\n

Mentioned in this article<\/h6>\n
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Assad Jafri Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Texas senate passes bill enabling Bitcoin investments with public funds Assad Jafri \u00b7 3 weeks ago \u00b7 2 min read Texas leads charge in cryptocurrency investments with senate passing bill endorsing Bitcoin as reserve asset. 2 min read Updated: Mar. 6, 2025 at 10:16 pm UTC Cover art\/illustration via CryptoSlate. Image includes combined content which<\/p>\n","protected":false},"author":1,"featured_media":837429,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22721,836],"tags":[11476],"class_list":{"0":"post-837428","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-senate","8":"category-texas","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/837428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=837428"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/837428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/837429"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=837428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=837428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=837428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}