{"id":15485,"date":"2025-02-28T11:31:38","date_gmt":"2025-02-28T11:31:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=15485"},"modified":"2025-02-28T11:31:38","modified_gmt":"2025-02-28T11:31:38","slug":"texas-moves-forward-with-bitcoin-reserve-volatility-be-damned","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=15485","title":{"rendered":"Texas Moves Forward With Bitcoin Reserve\u2014Volatility Be Damned"},"content":{"rendered":"
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Everything is bigger in Texas, the popular saying goes. Now, Bitcoin adds to that reputation as the state moves closer to creating its own strategic Bitcoin reserve.<\/a><\/p>\n

The initiative, <\/a>passed with a landslide 9\u20130 vote on February 27, 2025, outlines a plan for Texas to manage and store Bitcoin as part of a long-term investment strategy.<\/p>\n

The Texas Comptroller of Public Accounts would oversee the reserve, with the authority to acquire, sell, or trade Bitcoin as needed. The reserve would not be part of the state treasury, allowing for more flexibility in how the funds are handled.<\/p>\n

State\u2019s Strategy For Bitcoin Holding<\/strong><\/h2>\n

Senator Charles Schwertner of Texas sponsored the Texas Strategic Bitcoin Reserve<\/a> legislation in January 2025, but it was limited to Bitcoin and did not include provisions for the purchase of other digital assets.<\/p>\n

\"\"<\/p>\n

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It\u2019s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That\u2019s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve. This would position our state at the\u2026 pic.twitter.com\/dRdCt86Otr<\/a><\/p>\n

\u2014 Charles Schwertner (@DrSchwertner) January 15, 2025<\/a><\/p>\n<\/blockquote>\n

Funds for the reserve would come from different sources. These include legislative appropriations, investment earnings, dedicated revenue, and private donations. A newly established advisory committee would help guide investment decisions. Additionally, the bill requires biennial reports to ensure transparency and track the reserve\u2019s performance.<\/p>\n

Bitcoin\u2019s Market Volatility<\/strong><\/h2>\n

The price of Bitcoin is going up and down a lot right now, but this proposal is still moving forward. Bitcoin is worth $79,500<\/a> as of February 28, 2025, which is $8,3% less than when it was last closed. The most it went up that day was $86,970, and the least it went down was $79,105.<\/p>\n

<\/p>\n

The way the price has changed shows both the pros and cons of trading or just \u201chodling\u201d bitcoin. Bitcoin\u2019s price has gone up and down in the past, and some people say that Texas could become financially unstable if it owns such an unstable commodity. Some people, though, think that Bitcoin could be a way to protect against inflation and a weakened dollar.<\/p>\n

How Texas Compares To Other States<\/strong><\/p>\n

Not only is Texas among the states investigating cryptocurrency investments. Similar proposals<\/a> by Oklahoma, Arizona, and Utah explore the concept of including digital assets into their financial reserves. Texas seems to be leading the charge even though none of these states have yet passed such legislation.<\/p>\n

Should SB-21 be enacted, it might establish standards for other states. The result might affect the governments\u2019 future sentiment toward cryptocurrencies and maybe include them into their public financial systems.<\/p>\n

Advocates And Critics Weigh In<\/strong><\/p>\n

Proponents of the measure contend that Texas would find Bitcoin appealing as its distributed character is unique. They see it as a means to establish the Lone Star state as a leader in digital asset adoption and therefore boost the state\u2019s financial independence.<\/p>\n

On the other side, detractors of Bitcoin caution on its erratic price swings. They claim that should the reserve lose value, taxpayers could find themselves burdened. These issues have attracted attention as legislators discuss the plan considering the recent price drop of Bitcoin.<\/p>\n

For now, the bill moves to the next stage, with Texas watching closely to see if the state will officially add Bitcoin to its balance sheet.<\/p>\n

Featured image from Gemini Imagen, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Everything is bigger in Texas, the popular saying goes. Now, Bitcoin adds to that reputation as the state moves closer to creating its own strategic Bitcoin reserve. The initiative, passed with a landslide 9\u20130 vote on February 27, 2025, outlines a plan for Texas to manage and store Bitcoin as part of a long-term investment […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-15485","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15485"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15485\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}