The US state could be successful for frontline federal authorities on Bitcoin reserve policy as Texas lawmakers advanced the bill through the Senate.
Texas policymakers in the state Senate approved a proposal to invest public funds in Bitcoin (BTC) by 25-2 votes on Thursday, March 6, amid the US crypto policy race.
The bill has now moved to the House of Representatives, where it must act on the proposal by May 24th. Dennis Porter, founder of the Satoshi Law Fund, said that members of the House might facilitate the process and land proposals on the governor's desk soon.
It is discussing a bill that allocates taxpayer funds to allocate taxpayer funds in a national adoption wave driven by crypto lobbying and Donald Trump's return as president. Texas and Utah, the second-largest US economy with $2.6 trillion GDP, are considered top candidates who are likely to pass Bitcoin investment bills to the law, according to Porter.
Additionally, Texas news came before the White House Script Summit on Friday, March 7th. There, attendees are expected to include the industry's biggest names and big names. There is growing speculation that President Donald Trump will announce a nationwide Bitcoin strategy at the event.
Previously, White House AI and Crypto Czar David Sacks denounced the government's past Bitcoin management. The US sold 195,000 BTC for $336 million over 12 years, missing out on a profit of $17 billion instead.
Sachs said President Trump has directed the White House crypto working group to decide on a national BTC reserve strategy. Howard Lutnick, a commerce secretary and former Cantor Fitzgerald CEO, also highlighted Trump's interest in Bitcoin Reserve.
Questions were raised after Trump said US crypto sanctuaries include altcoins such as (XRP), Solana (SOL), and Cardano (ADA). Lutnick expects BTC to go to center stage, but Altcoins are “treated differently” positively.
