Texas Senate to consider Bitcoin reserve law

Texas decision -makers have about 24 billion dollars in sovereign wealth, the State Senate, the State Senate assessed the Bitcoin reserve legislation.

The Texas senatorial committee on unanimous affairs and trade supported A bill to invest in excess state in Bitcoin (BTC) As governments have thought about the adoption of the crypto reserve.

Republican Charls Schwertner, Chairman of the Committee, marked a 10-0 landslide vote for his proposal entitled Texas Strategic Bitcoin Reserve and Investment Act.

The State Senate will now examine the following bipartisan support of Schwertner. “Today’s vote was an essential first step in making a strategic investment in the Texas financial future,” President Schwertner said in a statement. The legislators could invest in the cash reserve of $ 24 billion in the state, if it was approved by the Senate.

More than 20 American states have run to adopt the laws of the BTC reserve, channeling the dollars of taxpayers to the largest market capitalization of cryptocurrency. The BTC reserve bill of Montana has failed to target a vote in the House, Arizona,, OklaholaAnd Utah got closer to the laws adopted.

States see BTC as a means of diversifying their sovereign portfolios. The return of President Donald Trump, as the first president of Bitcoin, and the gigantic expenses of the crypto during the general elections, undoubtedly contributed to pushing the needle on the adoption at the level of the state.