- The Texas Senate has to give a little nod to the House’s jiggle on the SB-21 bill before it can prance off to the governor’s desk.
- Oh, looky here! On-chain data shows a big ol’ supply shock has tickled Bitcoin‘s bullish feathers!
Well, well, well! After the Texas Senate tipped its cowboy hat and said, “Yeehaw!” to the Strategic Bitcoin Reserve (SB21) bill back in the merry month of March 2025, the rambunctious House chimed in with a grand stampede of votes: 101 to 42! Yep, you guessed it—Texas is now officially the third state in this wild, crypto rodeo to wrangle an SBR bill in both the Senate and House, trailing behind the daring duo of New Hampshire and Arizona. 👏
But hold your horses! The Senate needs to take another peek at the SB21 after the House tossed in a cheeky amendment that stirred the pot on crypto asset market caps. And guess what? They decided a snappy $500 billion market cap averaged over 24 months is much more fun than over just 12! 🎩
Now, let’s hear from the big cheese himself, Dennis Porter, the CEO and co-founder of the Satoshi Action Fund. He claims there’s a whopping 99% chance that the Texas Senate will give a thumbs up to the amendment. Meanwhile, the ever-dashing SB21 is destined for a trip to the State Governor, Greg Abbott, who will have a cool 20 days to either slap his signature on it or give it the ol’ veto treatment. ⌛
Technically, the Texas bill has to strut back to the Senate to confirm the amendment which did a little dance in the House. The House pranced around, changing the market cap average of $500 billion from 12 months to 24.
I’ve been told the odds of it being approved by the Senate are 99%+.
— Dennis Porter (@Dennis_Porter_) May 21, 2025
What Happens If Texas Gives Bitcoin a Big Ol’ Thumbs Up?
Look out, folks! Right now, BTC is all spruced up and is the only cryptocurrency strutting its stuff to meet the Texas SB21 bill’s standards. If the Texas Governor decides to put his autograph on this bill, brace yourselves for the Bitcoin market to do a happy dance like never before! 🎉
In addition, when states across the U.S. start adopting Bitcoin, it’s gonna lock in its title as the reliable digital gold in uncertain economic times. Already, Bitcoin’s price has been bouncing around like a happy puppy, driven by a rising wave of institutional investors and the not-so-secret retail traders. 🐶
According to the fantastical folks at Coinpedia, BTC’s price is all set to shoot for the stars—aiming to hit $150k before August! Just think of it like a rocket propelled by historical performance and current trends. Blast off! 🚀
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2025-05-22 01:02