Bitcoin Reserve Bill In Texas Removes $500 Million Buying Cap

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Bitcoinist 1w ago

Bitcoin Reserve Bill In Texas Removes $500 Million Buying Cap - Bitcoinist

Quick Summary:

Texas Senator Charles Schwertner has refiled a strategic Bitcoin reserve bill under the new designation "SB 21,” removing the previous annual purchasing cap of $500 million and paving the way for significantly larger state-level investments in Bitcoin (BTC).

The latest version of the bill, announced on February 12, replaces Schwertner’s earlier proposal, SB 778, which allowed Texas to buy and hold BTC strictly as a strategic asset.

Lieutenant Governor Dan Patrick previously announced the measure would be a high-priority item, and Schwertner’s reintroduction of the bill confirms the legislature’s commitment to exploring cryptocurrency as part of the state’s fiscal strategy.