On April 23, 2025, Texas has set a public meeting to deliberate on a proposed legislation that aims to establish a Strategic Bitcoin Reserve.
Initially, Crypto Rover broke the news on Twitter, igniting considerable excitement within the cryptocurrency circle. Should it be approved, the proposed legislation permits the state to annually acquire half a billion dollars’ worth of Bitcoin.
After the announcement, Bitcoin’s value rose by approximately 1%, surpassing the $85,000 mark, as reported by CoinMarketCap.
Simultaneously with a rise in prices, the 24-hour trading volume of Bitcoin dropped by approximately 28.81%, landing at around $13.41 billion. This decline suggests substantial trading activity among investors and increasing trust from institutional backers towards Bitcoin.
Previously, the bill has progressed through various stages in the Texas Senate, involving approval votes and readings in March. Currently, it’s scheduled for a hearing in the House on April 23rd. As a result, the crypto community is eagerly anticipating whether Texas will make a groundbreaking move by formally adding Bitcoin to its official reserves.
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2025-04-19 18:09