Texas believes in Bitcoin. And now, an official strategic Bitcoin reserve on the state level is getting closer.

‍What’s happening:‍

• The Texas Senate Banking Committee has unanimously approved Senate Bill 21 which is aiming to establish a strategic Bitcoin reserve
  

Why it matters:‍

• Texas is widely considered to be the most important state in America for Bitcoin mining operators and the Senate Bill 21 is aiming to further establish Texas as one of the leading regions in the United States for Bitcoin adoption
  

Going deeper:‍

• While Texas has made significant progress on advancing legislation around embracing Bitcoin, both Utah and Arizona are further ahead in the political process of getting a bill passed around forming a strategic Bitcoin reserve with state funds
  
• The United States of America has been getting extremely serious of the future of crypto, which has led to speculation that the new plans for an American sovereign wealth fund could also include investments directly into Bitcoin and other digital assets
  

The intrigue:‍

• Senate Bill 21 was originally solely focused on accumulating Bitcoin, which has since been expanded to potentially include other digital assets
  

The fine print:‍

• Senate Bill 21 still needs to pass through multiple more readings within the Senate and the House before it can officially be signed into law in Texas

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