In what is a massive development for both the state and the cryptocurrency, Texas Lieutenant Governor Dan Patrick has revealed plans to establish a Bitcoin reserve in 2025. In a recent statement issued by Patrick, he listed a “Texas Bitcoin Reserve” amid his first round of top 40 priority bills.
Texas is certainly not alone, as a slew of US states have sought to establish their own Bitcoin reserves. Moreover, US Senator Cynthia Lummis introduced legislation to establish such a reserve on the federal level. The Bitcoin Act would equip the government with the authorization to purchase and store the leading cryptocurrency. Similarly, Texas is among the states looking to do the same.
JUST IN: 🇺🇸 Texas Lieutenant Governor Dan Patrick unveils plan to establish a "Texas Bitcoin Reserve" in 2025. pic.twitter.com/FwNGPG3kvd
— Watcher.Guru (@WatcherGuru) January 29, 2025
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Texas Planning to Introduce Bitcoin Reserve in 2025, Lieutenant Governor Confirms
Entering 2025, the United States was expected to massively shift its stance on cryptocurrencies. Pro-crypto Donald Trump emerged victorious in the presidential election and was set to usher in a new era for the government. specifically, he was poised to completely overhaul its crypto policy.
This has already begun to take shape, and now states are following suit. Amid the continued effort to embrace the asset class, Texas Lieutenant Governor Dan Patrick announced the plan to introduce a Bitcoin reserve in 2025. Indeed, Patrick listed the reserve among the state’s “priority bills for the 2025 legislative season.”
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“These bills represent the will of the conservative majority of Texas, and many will pass with bipartisan support,” Patrick said. The Texas Bitcoin Reserve being established stood as Senate Bill 21 for the administration. Moreover, they are one of several states seeking similar bills.
Oklahoma introduced legislation to create a Bitcoin reserve just two weeks ago. Moreover, Massachusetts followed suit, implementing similar plans in the middle of January. The point of interest now stands at the federal level. Although many expected otherwise, Trump has yet to introduce a BTC reserve. Instead, he announced the launch of a crypto stockpile that will constitute a host of digital assets.