Texas Takes Step Towards Implementing State-Backed Bitcoin Reserve

A rare display of bipartisan support has propelled a bill that could see Texas become one of the first U.S. states to utilize Bitcoin as a state asset. If enacted, the Strategic Bitcoin Reserve (SBR) would be established, solidifying this move’s significance on both national and global scales. Texas boasts the eighth-largest economy in the world, with a GDP exceeding $2.6 trillion, surpassing countries like Canada and Australia. This unprecedented move would legitimize digital assets within U.S. public finance and signal a new era for crypto in government.