Texas Senator Charles Schwertner has proposed Senate Bill 778 (SB 778) to establish a Strategic Bitcoin Reserve, positioning the state as a leader in economic growth and financial freedom.
If approved, Texas would become the first state in the U.S. to adopt this initiative, allowing it to acquire and hold Bitcoin as an economic asset, further enhancing its status in the digital economy.
“Bitcoin is a valuable digital asset with strategic potential for enhancing this state’s financial resilience,”
Schwertner’s bill read. “The Texas Strategic Bitcoin Reserve is a special fund outside the general revenue fund in the state treasury.”
The Texas Senator emphasized that Bitcoin’s decentralized structure and limited supply would protect against inflation and economic instability. Stating,
“The establishment of a strategic bitcoin reserve aligns with this state’s commitment to fostering innovation in digital assets and providing enhanced financial security to residents of this state.”
In December 2024, the Texas House of Representatives proposed legislation to create a formal Bitcoin Reserve. Republican state Rep. Giovanni Capriglione said the bill would start building the reserve by accepting taxes, fees, and donations in Bitcoin.
Meanwhile, Ohio is considering the addition of Bitcoin to its treasury reserves, with House Republican leader Derek Merrin sponsoring a new bill. The goal is to provide the state treasurer with the authority and flexibility to invest in Bitcoin while creating a framework for the state government to utilize Bitcoin’s potential to improve Ohio’s financial situation.
Notably, Oklahoma State Senator Dusty Deevers has introduced the Bitcoin Freedom Act, which aims to integrate Bitcoin as a mainstream financial option in Oklahoma. The bill will enable residents, employers, and vendors to use Bitcoin for salaries, transactions, and investments. Its goal is to create a secure framework for Bitcoin usage, helping residents protect their earnings against inflation. Deevers highlights Bitcoin as a valuable tool for safeguarding investments and income.
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