The Senate in Texas, the Alawite House of Representatives in the state legislative body, is On the right track To hold a public hearing on the implementation of the strategic bitcoin reserves on Tuesday.
The draft law (SB21) was submitted by Senator Charles Chourtner earlier this year.
The Lieutenant Ruler in Texas Dan Patrick designed it as one of the 40 best priority draft laws in the Senate.
A new version of the bill, which was presented last week, allows investment in cryptocurrencies that maintained the market value of no less than $ 500 billion throughout the year. Also, the annual purchase ceiling no longer includes $ 500 million.
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The legislative effort aims to enhance the economic flexibility of the state by integrating bitcoin.
Of course, Texas is known as one of the largest bitcoin mining centers in the world, which is why it is logical to become Lone Star State in terms of state reserve creation with the leading cryptocurrency.
In fact, the Texas -based bitcoin miners represent 52 % of the total retail in the encrypted currency.
Moreover, 12 American states recently reported Microstrategy (MSTR) in the first quarter.
More than 20 states have now joined the race to launch Bitcoin reserves at the state level in the United States. Last week, West Virginia (WV) became the twenty -third country that submitted such a law.
Federal bitcoin reserves that are approved this year 43 %, according to Polymark’s data.
Other national countries can follow America’s suit by purchasing the leading cryptocurrency.
