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Dan Patrick, the Lieutenant Governor of Texas, has announced that establishing a Texas Bitcoin Reserve will be a top priority for 2025. With this move, Texas joins at least five other U.S. states working on a strategic Bitcoin reserve, including Arizona and Utah, which are pursuing similar plans.
Two Legislative Proposals in Texas
Two Texas government officials have introduced legislative proposals to create a state Bitcoin reserve.
The latest proposal comes from Senator Charles Schwertner, who introduced it on January 16.
It's time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve. This would position our state at the… pic.twitter.com/dRdCt86Otr
— Charles Schwertner (@DrSchwertner) January 15, 2025
On January 16, he wrote on X (formerly Twitter) that a Texas Bitcoin Reserve would “position the state at the forefront of the digital economy, drive growth, and secure the economic freedom of our great state.”
Even before this, in December 2024, Giovanni Capriglione introduced Bitcoin-related legislation in the Texas House of Representatives. This proposal would allow state services, taxes, and fees to be paid with Bitcoin.
Based on this framework, Texas could develop its own Bitcoin reserve.
Texas: An Economic Powerhouse
At first glance, this may seem like a minor development for Bitcoin, but that couldn’t be further from the truth.
Texas is the largest U.S. state by land area. If it were a sovereign nation, it would be the eighth-largest economy in the world.
The state generates $250 billion in annual revenue from taxes, services, and other sources.
Additionally, Texas is home to numerous Bitcoin mining operations, thanks to its abundant and affordable energy supply—particularly from renewable sources. Moreover, Texas has a highly crypto-friendly regulatory environment.
A Long-Term Strategy or Political Hype?
What do you think? 🤔 Is it realistic for Texas to establish a long-term state Bitcoin reserve, or is this just political posturing?
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