Texas considers strategic Bitcoin reserve bill
The Texas Senator, Charles Schwertner, has kicked off the state’s 89th legislative session by introducing a bill that would make Texas the first state to establish a strategic Bitcoin reserve.
The legislative session began on Tuesday (January 14) with the senator announcing his bill, SB 778, just a day later.
“It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve.
“This would position our state at the forefront of the digital economy, driving growth and securing economic freedom for our great state! #txlege.”
It's time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve. This would position our state at the… pic.twitter.com/dRdCt86Otr
— Charles Schwertner (@DrSchwertner) January 15, 2025
The bill, states this move would align “with this state’s commitment to fostering innovation in digital assets and providing enhanced financial security to residents of this state.”
If passed, the reserve would enable the state to own and hold Bitcoin as a financial asset and people, including residents, would be able to “donate Bitcoin to the state for deposit in the reserve to promote the shared ownership of and community investment” in the area’s financial future.
Florida and Texas could be considering a strategic Bitcoin reserve this yearSchwertner’s announcement on the X platform was met with users largely praising the idea.
Florida is going to launch a strategic Bitcoin reserve, and here’s how we’re going to do it 