Texas Takes a Big Step into the World of Bitcoin
The Texas Senate has done something amazing! They’ve passed a bill to start a special Bitcoin reserve. This is like Texas saying, “We want to be the first state to really use Bitcoin!” Let’s find out more about this new law and what it means.
The Bill: SB 21
The bill is called Senate Bill 21, or SB 21 for short. Senator Charles Schwertner introduced it, and on March 6, 2025, it was passed with 25 votes in favor and only 5 against[1][3]. At first, the bill was only about Bitcoin, but later it was changed to include other cryptocurrencies that are worth at least $500 billion[2][5].
Why the Bill Was Passed
People who support the bill say that a Bitcoin reserve would help Texas stay safe from economic problems. Senator Schwertner thinks that Bitcoin is like “digital gold” and can help Texas’ money stay strong[1][3]. Some people also think that having Bitcoin is a way to say “no” to the federal government’s growing debt[2].
What’s Happening in the Rest of the Country
The Texas Senate passed this bill at a time when many people in the country are talking about Bitcoin reserves. Even the President, Donald Trump, has said he thinks it’s a good idea to have a federal Bitcoin reserve[3]. If Texas can make this work, other states might follow, which could change how money works all over the country.
Challenges and Opportunities
Even though many people support the bill, there are some challenges. The reserve will need money, and Senator Schwertner thinks it might need about $20 million for the next two years[2]. Also, we don’t know yet if the Texas House will agree to the bill. But if it’s passed, Texas could become the leader in using cryptocurrency, which might bring more money and jobs to the state.
What This Means for Texas and Beyond
The Texas Senate’s decision to pass SB 21 is a big step into the future of money. By using Bitcoin and maybe other cryptocurrencies, Texas is showing that it wants to be innovative and strong economically. Now, we’ll all be watching to see if Texas can make this reserve work and if other states will follow.
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Sources:
– Cointelegraph
– Quorum Report
– Bitcoin Magazine
– Sky News
– U.Today