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Senator Schwertner emphasized Bitcoin’s resilience through market cycles and national deficits, positioning it as a strategic reserve asset for Texas. Lawmakers argue that Bitcoin serves as a hedge against inflation and economic uncertainty, much like gold.

The Texas Strategic Bitcoin Reserve and Investment Act was initially introduced in January as a Bitcoin-only initiative, and was amended in February to include other digital assets like Ripple, Solana and Cardano, following President Trump’s executive order on a federal digital asset reserve

The push for state Bitcoin reserves follows President Trump’s federal digital asset reserve proposal, which drew criticism for including multiple cryptocurrencies, as industry leaders argue only Bitcoin compares to gold

Texas is part of a growing trend of U.S. states seeking to adopt Bitcoin reserves, with New Hampshire and Utah advancing similar bills. Utah is one vote away from passage, but time is running out before the legislative session ends

Senate Committee Chairman Charles Schwertner emphasized Bitcoin’s growing role in financial markets, while industry leaders, including Pierre Rochard of Riot Platforms, backed Texas' Bitcoin reserve bill as a strategic investment during a February 18 hearing

Texas Senate passed a bill to establish a Bitcoin strategic reserve

Texas is set to become the first U.S. state to hold Bitcoin in a strategic reserve, pending final approvals. President Trump will announce details on the federal Bitcoin reserve at the White House Digital Assets Summit.

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Texas approves Strategic Bitcoin Reserve and Investment Act

Crypto news