Texas could become first US state to hold Bitcoin reserve as Senate passes bill

The Texas Senate passed the Bitcoin Strategic Reserve Bill, SB-21, by a vote of 25-5 on the 6th (local time) after a heated debate in the Senate plenary session.
The bill was sponsored by Texas Senator Charles Schwertner.
Schwertner argued that the bill would help shore up Texas' fiscal position, explaining that this is because the digital asset Bitcoin is a valuable and limited asset.
"We don't have dollar bills and safes like in the Middle Ages. We have digital currency," he said.
According to Bitcoin-related laws, a total of 32 Bitcoin-related laws have been enacted in 24 U.S. states to date.
The Bitcoin Strategic Reserve Bill has been introduced. Lawmakers who support Bitcoin say it is not a direct competitor to the US dollar, the world's reserve currency, but is more similar to gold.
"The value of the dollar has fallen because of central bank manipulation and intervention," Schwertner said. "With this kind of currency inflation,
"People have lost confidence in the U.S. dollar," he added. The bill has yet to be signed into law by the governor. If SB-21 passes, Texas will become the first U.S.
It will be the first state to hold a strategic reserve for digital assets.