比特幣在後台帶有德克薩斯州國旗。

在具有里程碑意義的舉動中，德克薩斯州參議院銀行委員會已一致提高參議院法案21（SB-21），並提議創建德克薩斯州戰略比特幣儲備。

The Texas Senate Banking Committee has unanimously passed Senate Bill 21 (SB-21), which proposes the creation of a Texas Strategic Bitcoin Reserve. The bill, which was passed with a 9–0 vote on February 27, 2025, would authorize the Texas Comptroller to manage investments in bitcoin and other digital assets.

德克薩斯州參議院銀行委員會已一致通過了參議院第21號法案（SB-21），該法案提議創建得克薩斯州的戰略比特幣儲備。該法案於2025年2月27日以9-0的投票通過，該法案將授權德克薩斯州審計長管理對比特幣和其他數字資產的投資。

The bill is a key part of a broader initiative to expand the types of investments that the Texas Treasury can hold. Currently, the treasury is only allowed to invest in a limited number of asset classes, such as stocks, bonds, and real estate. SB-21 would add bitcoin and other digital assets to this list.

該法案是擴大得克薩斯州財政部可以持有的投資類型的更廣泛計劃的關鍵部分。目前，財政部僅允許投資有限數量的資產類別，例如股票，債券和房地產。 SB-21將在此列表中添加比特幣和其他數字資產。

SB-21 would also create a new special fund within the state treasury to be named the Texas Strategic Bitcoin Reserve. The reserve would be funded by legislative appropriations, dedicated revenues, purchases of cryptocurrencies, investment earnings, and donations.

SB-21還將在國家財政部內創建一個新的特別基金，被命名為德克薩斯州戰略比特幣儲備。該儲備金將由立法撥款，專用收入，加密貨幣，投資收入和捐款資助。

The bill defines the term “major cryptocurrency” as any cryptocurrency that has an average market capitalization of at least $500 billion for the preceding 12 months. It also specifies that any cryptocurrency acquired by the comptroller must be a major cryptocurrency at the time of purchase.

該法案將“主要加密貨幣”一詞定義為任何加密貨幣，其平均市值在前12個月至少為5000億美元。它還指定了審計長獲得的任何加密貨幣在購買時必須是主要的加密貨幣。

According to the bill, the comptroller is authorized to:

根據該法案，審計長被授權：

1. Acquire, sell, hold, and otherwise manage bitcoin and other cryptocurrencies on behalf of the State in accordance with the provisions of this Section.

1。根據本節的規定，代表國家獲取，出售，持有和以其他方式管理比特幣和其他加密貨幣。

2. Pay all administrative expenses incurred in connection with the administration of this Section.

2。支付與本節管理有關的所有行政費用。

3. Contract with third parties for the administration, investment management, or other services related to the Strategic Bitcoin Reserve.

3.與第三方的政府，投資管理或與戰略比特幣儲備有關的其他服務的合同。

4. Be reimbursed for administrative expenses by the Strategic Bitcoin Reserve.

4。通過戰略比特幣儲備金向行政費用償還。

The bill also provides for the auditing of the Strategic Bitcoin Reserve by a certified public accountant. An advisory committee, appointed by the comptroller and composed of experts in cryptocurrency investments, will advise the comptroller on matters pertaining to the valuation of cryptocurrencies and the investment of funds in the Strategic Bitcoin Reserve.

該法案還規定了認證的公共會計師對戰略比特幣儲備的審核。由審計長任命的諮詢委員會，由加密貨幣投資專家組成，將向審計長提供有關與加密貨幣估值以及在戰略比特幣儲備中的資金投資有關的事項。

Texas Strategic Bitcoin Reserve And A Volatile Market

德克薩斯州戰略比特幣儲備和波動市場

The advancement of SB-21 comes amid notable volatility in the bitcoin market. Recently, the price of bitcoin has seen a significant downturn, entering a technical bear market with more than a 20% decline from its January peak of $109,350 to about $85,821.

SB-21的進步是在比特幣市場明顯波動的情況下出現的。最近，比特幣的價格急劇下降，從1月份的峰值109,350美元降至85,821美元，進入了技術熊市，其技術熊市下降了20％以上。

This downward trend has been attributed to several factors, including substantial outflows from spot bitcoin ETFs, macroeconomic uncertainties, and a major $1.5 billion hack on the ByBit exchange, which reports claim was orchestrated by North Korean actors.

這種下降趨勢歸因於幾個因素，包括來自現貨比特幣ETF的大量外流，宏觀經濟的不確定性以及拜比特交易所的15億美元黑客攻擊，據報導，朝鮮演員策劃了據報導。

However, proponents of SB-21 argue that establishing a bitcoin reserve could serve as a strategic hedge against inflation and economic volatility. State Senator Charles Schwertner, who introduced the bill, highlights that bitcoin possesses strategic potential for enhancing Texas’s financial resilience.

但是，SB-21的支持者認為，建立比特幣儲備可以作為抵制通貨膨脹和經濟波動的戰略對沖。提出該法案的州參議員查爾斯·施沃特納（Charles Schwertner）強調，比特幣具有增強德克薩斯州財務韌性的戰略潛力。

SB-21 Impact: Good and Bad

SB-21影響：好與壞

The proposal has sparked a range of opinions. Supporters see it as a futuristic move that positions Texas at the forefront of financial innovation. They argue that including bitcoin in the state’s financial portfolio would diversify assets and provide a safeguard against traditional market fluctuations.

該提案引發了一系列意見。支持者認為這是未來派的舉動，將得克薩斯州定位在金融創新的最前沿。他們認為，在該州的金融投資組合中包括比特幣將使資產多樣化，並為傳統市場波動提供保護。

This initiative aligns with a broader shift in the U.S., with multiple states exploring the integration of digital assets into their financial strategies.

該計劃與美國的更大轉變保持一致，多個州探索了數字資產融入其財務策略。

Earlier this year, Oklahoma introduced a bill to allow the state to invest in bitcoin, and Arizona lawmakers are currently considering a similar measure that would authorize the state to allocate up to $1 billion to cryptocurrency investments.

今年早些時候，俄克拉荷馬州提出了一項法案，以允許該州投資比特幣，而亞利桑那州議員目前正在考慮採取類似的措施，該措施將授權該州分配高達10億美元用於加密貨幣投資。

Utah is also making strides in this domain with a bill that aims to establish a cryptocurrency task force and authorize the state treasurer to invest in digital assets.

猶他州還通過一項旨在建立加密貨幣工作隊並授權國家財務主管投資數字資產的法案，在該領域取得了長足的進步。

However, critics voice concerns over the prudence and potential risks of such investments. The volatility of bitcoin prices raises questions about the stability of public funds allocated to digital assets.

但是，批評家的聲音關注此類投資的審慎和潛在風險。比特幣價格的波動提出了有關分配給數字資產的公共資金穩定性的問題。

Critics warn that this exposure could have implications for the state’s ability to fund essential public resources and services. Additionally, the recent ByBit exchange hack, reportedly affecting ether and other tokens, further fuels the apprehension of those opposed to the bill.

批評家警告說，這種暴露可能會影響該州為基本公共資源和服務提供資金的能力。此外，據報導，最近的Bybit Exchange Hack影響了Ether和其他令牌，進一步加劇了對反對該法案的人的憂慮。