Texas Proposes Second Bill for $250M Bitcoin Investment Reserve
- Texas has introduced House Bill 4258, which would allow the state comptroller to invest up to $250 million from the Economic Stabilization Fund
- This Bill follows the Senate Bill 778 and aligns with a growing national trend of U.S. states considering Bitcoin reserves to help protect against inflation
Texas lawmakers have put forward another Bitcoin reserve bill, giving the states chief accountant and financial regulator the power to invest as much as $250 million in digital assets.
Senate bill HB 4258 would authorize the official overseeing state finances to allocate funds into Bitcoin or other cryptocurrencies.
Texas Advances Bitcoin Investment Strategy
Texas has introduced a new House Bill 4258 on the 11th March 2025, the proposed bill would allow the state comptroller (Senior Finance Executive) to invest up to $250 million from the Economic Stabilization Fund into Bitcoin or any other cryptocurrencies.
This initiative follows the Senate Bill 778 that was previously passed by the Senate and is currently under House review. HB 4258 would also give local governments like municipalities and counties the opportunity to allocate up to $10 million of their funds into digital assets.
These legislative efforts seen in the House align with a broader national trend, as different states in the U.S. explore the establishment of Bitcoin reserves to help hedge against inflation and also bring about the diversification of investment portfolios. So Texas with its significant cryptocurrency mining operations, is also positioning itself as a leader in this emerging financial landscape.
Earlier in the Month, the Texas Senate approved the Bitcoin strategic reserve bill, SB-21, after discussions led by State Senator Charles Schwertner.
He emphasized that adding a scarce and valuable asset like Bitcoin would help strengthen the states financial position. If enacted, Texas would become the first in the U.S. to establish a digital asset reserve. However, the bill still requires the governors approval to become law.
According to The Bitcoin Reserve Monitor it reports there are at least 21 U.S. states exploring the idea of creating strategic cryptocurrency reserves. These states are at various points in their approval process, with about 19 awaiting decisions, two still reviewing proposals, and another five having already dismissed similar initiatives.
Related | Coinbase Registers with Indias Financial Intelligence Unit
Read more: https://www.tronweekly.com/texas-proposes-second-bill-for-250m-bitcoin-investment-reserve/
Text source: TronWeekly
