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The Lone Star State could become the first U.S. state to officially establish a bitcoin reserve. Dan Patrick, the lieutenant governor of Texas, has included this project among the legislative priorities for 2025, marking a decisive step in the institutional adoption of cryptocurrencies in the United States.
Texas could soon store Bitcoin legally
On January 29, Dan Patrick officially included the bitcoin reserve project among Texas’s legislative priorities for 2025. This announcement follows two complementary bill proposals: one presented in mid-January by Senator Charles Schwertner, and the other filed in December 2024 by Republican Representative Giovanni Capriglione.
The project would allow Texas to accept payment of taxes and fees in bitcoin, thus directly fueling the future strategic reserve.
The state, which would collect more than $250 billion annually in tax revenues according to the comptroller of finance, would have significant capacity to build this reserve. Such an initiative makes perfect sense for Texas, which, if it were an independent nation, would represent the eighth-largest economy in the world.
This move aligns with a particularly favorable context, as Texas is already recognized as a major hub for Bitcoin mining due to its abundant energy and crypto-friendly regulations.
A movement that is accelerating nationally
The movement initiated by Texas is part of a larger national trend. At least five other U.S. states, including Arizona and Utah, are currently working on similar strategic reserve projects. Arizona is leading the way with its Strategic Bitcoin Reserve Act, which aims to allocate up to 10% of its public funds to bitcoin.
This momentum is reinforced by the growing political support for cryptocurrencies, particularly with the strategic appointment of Senator Cynthia Lummis to lead the Senate subcommittee on digital assets. Her BITCOIN Act, aimed at establishing a national strategic reserve, reflects the scale of the movement.
Texas, with its economic power and already established expertise in the Bitcoin ecosystem, could very well become the catalyst for massive institutional adoption in the United States, permanently transforming the American financial landscape.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
