Texas Names Bitcoin Reserve a 2025 Priority
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Texas Lieutenant Governor Dan Patrick has announced that creating a Bitcoin reserve is a key priority for the 2025 legislative agenda.
Bitcoin Reserve Plan Gains Momentum in Texas
On January 29, 2025, Patrick highlighted this proposal as part of his official statement about the state’s top goals for the upcoming legislative year.
State lawmakers have already made moves to push this initiative forward. Recently, Senator Charles Schwertner proposed legislation to establish a Bitcoin reserve for Texas.
“A Texas Bitcoin reserve would position the state at the forefront of the digital economy, driving growth and securing economic freedom for our great state,” Schwertner said.
🇺🇸 TEXAS STRATEGIC #BITCOIN RESERVE BILL IS NOW THE TOP PRIORITY OF THE GOVERNMENT 🤯
IT’S FINALLY HAPPENING!!! 🚀 pic.twitter.com/fqxhvHdD5f
— Vivek⚡️ (@Vivek4real_) January 29, 2025
This announcement follows an earlier proposal from Republican Representative Giovanni Capriglione in December 2024. Capriglione’s bill would allow the state to accept Bitcoin for fees and taxes, which would help build the strategic reserve.
Texas has emerged as a leading hub for Bitcoin mining due to its favorable energy environment. The state’s cheap, renewable energy sources and crypto-friendly regulatory framework have attracted many miners.
Establishing a Bitcoin reserve could further cement Texas’s role as a leader in the digital economy.
Growing Interest in Crypto Reserves Across the U.S.
Texas is not alone in exploring crypto reserves. At least five states, including Arizona and Utah, have advanced similar proposals. These efforts indicate growing state-level interest in using Bitcoin as a financial hedge and a symbol of innovation.
Supporters argue that such reserves offer protection against inflation and signal technological progress. However, some experts caution that cryptocurrency volatility could pose financial risks for states considering such moves.
The interest in Bitcoin reserves extends beyond individual states. On the national level, Wyoming Senator Cynthia Lummis has introduced the BITCOIN Act to establish a federal reserve for Bitcoin. Also, former President Donald Trump promised to create a national cryptocurrency reserve during his campaign.
Furthermore, President Donald Trump issued an executive order making cryptocurrency a national focus. The order directs regulatory agencies to collaborate with the crypto industry and establishes a dedicated crypto council to support digital asset growth.