US States Are Accelerating Efforts to Build a Bitcoin Reserve, with Texas Advancing Senate Bill 21 to a Floor Vote

This move comes after Arizona and New Hampshire enacted similar legislation to establish their own Bitcoin reserve frameworks.

U.S. states are quickly setting up their own Bitcoin reserves as the flagship cryptocurrency approaches the $100,000 price point.

Texas has advanced Senate Bill 21 to a floor vote, advancing legislation that would permit the creation of a state-managed Bitcoin reserve. The move follows a similar bill in Arizona, which was passed by lawmakers last week.

Arizona passed House Bill 2749, setting the stage for a Bitcoin reserve and sparking brief speculation about a possible reversal. The bill was approved through a bipartisan vote, showcasing agreement among officials on integrating digital assets, despite earlier talks this week about scrapping the initiative.

The legislation paves the way for using Bitcoin to manage unclaimed digital property and modernize asset management systems. Officials view the Bitcoin reserve as a natural adjustment to the world’s financial and technological shifts.

“We should not be lagging in the rush for innovation,” Arizona officials said, highlighting the urgency in their decision.

The move solidifies Arizona’s role as a leader in digital finance following the signing of this law. Meanwhile, New Hampshire has drafted legislation in the past 48 hours to create a strategic reserve of Bitcoins. The act outlines a framework for acquiring, storing, and governing the state treasury’s digital assets.

The bill details major operational and legal provisions for managing Bitcoin as a government-held asset. Lawmakers are focused on establishing a robust Bitcoin reserve structure that adheres to national and international standards.

New Hampshire’s swift action is applying pressure on other states to create their own Bitcoin reserves. With digital currencies now being recognized in institutions, the state’s leadership is experiencing some positive long-term effects. This move cements New Hampshire’s role in the digital currency transition phase within the United States.