Texas Senator Proposes SB 778 to Establish State's First Strategic Bitcoin Reserve

Jan 15, 2025, 10:47 PM

Texas State Senator Charles Schwertner has introduced a bill, SB 778, aimed at establishing a Strategic Bitcoin Reserve for the state. The proposed legislation, if passed, would position Texas as the first state in the U.S. to create such a reserve. The reserve would involve the state stockpiling Bitcoin in ultra-secure cold storage. Schwertner's initiative is seen as a move to lead the way in integrating state treasuries with cryptocurrency, potentially setting a precedent for other states.