Texas Senate Refiles Bill to Establish Strategic Bitcoin Reserve, Removing $500M Cap

On February 12, Texas Senator Charles Schwertner refiled SB 21, a bill to establish a strategic Bitcoin reserve, eliminating the previous $500 million annual purchasing cap. This revision allows for potentially larger state investments in Bitcoin and other crypto assets meeting a $500 billion market capitalization threshold. The bill permits active buying, selling, and management of crypto assets as an investment vehicle, marking a significant shift in Texas's approach to digital asset investment. Senator Schwertner expressed gratitude to Lieutenant Governor Dan Patrick for prioritizing SB 21, highlighting its potential to drive innovation and financial freedom in Texas.