Texas lawmakers have refiled a Bitcoin reserve bill, allowing investments in other cryptocurrencies.
Reintroduction of the Bill
On February 12, Texas Senator Charles Schwertner introduced SB 21, aimed at establishing a strategic Bitcoin reserve, promoting innovation and financial freedom in the state.
Investment Conditions
SB 21 establishes the reserve as an investment vehicle, allowing the state to actively buy, sell, and manage crypto assets. It permits investments in other digital assets, requiring them to have a market capitalization of at least $500 billion for the past twelve months.
Reactions and Trends
Pierre Rochard from Riot Platforms commented that the new legislative text for Texas SBR is very bullish, removing the $500 million annual buying limit.
The refiling of the bill highlights Texas's ongoing interest in cryptocurrencies as strategic assets amidst a larger trend among several US states.
