{"id":849932,"date":"2025-05-21T09:12:02","date_gmt":"2025-05-21T14:12:02","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/21\/worlds-8th-largest-economy-close-to-adopting-bitcoin-reserve-as-texas-heads-to-final-vote\/"},"modified":"2025-05-21T09:12:02","modified_gmt":"2025-05-21T14:12:02","slug":"worlds-8th-largest-economy-close-to-adopting-bitcoin-reserve-as-texas-heads-to-final-vote","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/21\/worlds-8th-largest-economy-close-to-adopting-bitcoin-reserve-as-texas-heads-to-final-vote\/","title":{"rendered":"World\u2019s 8th largest economy close to adopting Bitcoin reserve as Texas heads to final vote"},"content":{"rendered":"
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\"World\u2019s World\u2019s 8th largest economy close to adopting Bitcoin reserve as Texas heads to final vote<\/span> Oluwapelumi Adejumo \u00b7<\/span> 5 hours ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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Texas legislature amended the Bitcoin reserve bill to set a stricter criteria for other digital asset inclusion.<\/p>\n

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<\/a><\/p>\n<\/div>\n

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

Updated:<\/span> May. 21, 2025 at 10:30 am UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Texas is advancing plans to create a government-backed Bitcoin<\/a> reserve after lawmakers approved Senate Bill 21 (SB 21) in its second House reading on May 20.<\/p>\n

According to voting records on the Texas Senate website<\/a>, the proposal passed with a commanding 105 to 23 vote, reflecting rare bipartisan support. It now heads to a third reading, where a final vote could send the bill to the Governor for approval.<\/p>\n

SB 21 seeks to establish a Strategic Bitcoin Reserve (SBR), making Texas one of the few US states to explore direct exposure to Bitcoin at the government level.<\/p>\n

The implications of such a move are considerable. Texas is the world\u2019s eighth-largest economy, valued at $2.6 trillion, surpassing Russia, Canada, and Australia. A state-level Bitcoin reserve in such a robust economy would mark a major milestone for crypto adoption in the US.<\/p>\n

Dennis Porter, co-founder and CEO of the Satoshi Action Fund, emphasized<\/a> the significance of the bill\u2019s progress.<\/p>\n

He noted that Texas could soon become the third US state to send a Bitcoin reserve bill<\/a> to the Governor\u2019s desk, following in the footsteps of New Hampshire<\/a> and Arizona<\/a>.<\/p>\n

While the third reading is expected shortly, Porter suggested it\u2019s rare for a bill to fail at this stage. However, he conceded<\/a> that:<\/p>\n

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\u201cEvery state is different.\u201d<\/p>\n<\/blockquote>\n

Changes to the Texas Bitcoin reserve bill<\/h2>\n

Ahead of the vote, lawmakers introduced a significant amendment allowing other digital assets to be included in the reserve, but only if they meet strict requirements.<\/p>\n

To qualify, a digital asset must maintain a $500 billion market cap for at least two years. This is double the original 12-month requirement and raises the barrier for inclusion.<\/p>\n

Bitcoin Laws, a Bitcoin policy-focused firm, explained<\/a>:<\/p>\n

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\u201cThis means [that] an asset must sustain the minimum market cap for longer. Making it harder for to qualify.\u201d<\/p>\n<\/blockquote>\n

This update effectively narrows the field as Bitcoin stands alone in meeting the threshold. It holds a market value of more than $2 trillion, making it the only eligible digital asset under the current criteria.<\/p>\n

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\n Oluwapelumi Adejumo<\/p>\n","protected":false},"excerpt":{"rendered":"

World\u2019s 8th largest economy close to adopting Bitcoin reserve as Texas heads to final vote Oluwapelumi Adejumo \u00b7 5 hours ago \u00b7 2 min read Texas legislature amended the Bitcoin reserve bill to set a stricter criteria for other digital asset inclusion. 2 min read Updated: May. 21, 2025 at 10:30 am UTC Cover art\/illustration<\/p>\n","protected":false},"author":1,"featured_media":849933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1537,1329],"tags":[],"class_list":{"0":"post-849932","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-largest","8":"category-worlds"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/849932","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=849932"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/849932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/849933"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=849932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=849932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=849932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}