{"id":16577,"date":"2025-03-06T20:46:57","date_gmt":"2025-03-06T20:46:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16577"},"modified":"2025-03-06T20:46:57","modified_gmt":"2025-03-06T20:46:57","slug":"texas-surges-in-u-s-states-race-to-put-public-funds-into-crypto","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16577","title":{"rendered":"Texas Surges in U.S. States’ Race to Put Public Funds Into Crypto"},"content":{"rendered":"
\n

Several U.S. states are getting closer to putting public money into cryptocurrencies effort, spurred by President Donald Trump since he announced plans to do the same on a federal level. And Texas is now among the leading contenders.<\/p>\n<\/p>\n

On Thursday, the Texas state senate passed the so-called SB 21 bill<\/a> which would allow the state to invest some of the public\u2019s money into digital assets, specifically bitcoin (BTC).<\/p>\n<\/p>\n

Bitcoin, according to a statement<\/a> from Texas Senator Charles Schwertner last week, \u201chas proven itself through multiple boom and bust cycles,\u201d making it a great reserve asset in times of a \u201cdevastating national deficit\u201d along with \u201cinflation and uncertainty,\u201d as Schwertner described.<\/p>\n<\/p>\n

New Hampshire also passed a bill on Wednesday<\/a> through a state house committee, the House Bill 302<\/a> by a 16-1 vote, that would allow the state to invest up to 5% of public funds into bitcoin as well as other precious metals. So, it’s moving forward, though it’s a few votes away from the finish line.<\/p>\n<\/p>\n

Almost a dozen states have made strong efforts to pass a bill that would allow similar allocations, while at least five states ran into setbacks or no votes<\/a> that tanked their bills.<\/p>\n<\/p>\n

Utah has so far been the frontrunner in a variety of efforts and remains just one senate approval away from sending a bill to its governor’s desk. However, the legislative session expires this week, leaving little time to get the senate to join the state house in approving an investment of as much as 5% of certain public accounts in a digital asset with more than $500 billion in assets. (So far, that’s just bitcoin.)<\/p>\n<\/p>\n

If the Utah senate acts by Friday, the final word goes to its Republican governor, Spencer Cox, who has supported blockchain policy in the past. If not, Utah’s effort gets put off another year, and other states such as Arizona and Texas could take the spotlight.<\/p>\n<\/p>\n

The recent action comes after President Trump on Sunday again discussed his own plan for a strategic crypto reserve. Trump said that a U.S. strategic crypto reserve could hold XRP, Solana (SOL) and Cardano (ADA) as well as Bitcoin and Ethereum (ETH), though many details of the effort and how it would be executed remain uncertain.<\/p>\n<\/p>\n

Many industry leaders have criticized Trump\u2019s decision to hold other cryptocurrencies beyond bitcoin, as it is the one that best fits the characteristics of other reserve assets such as gold. The president, however, hasn\u2019t provided clear guidelines on how such a strategy would work \u2014 for example, how the government would source the tokens.<\/p>\n<\/p>\n

Read More: Utah One Vote Away, But Some States Fail to Break Through on Crypto Stakes<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Several U.S. states are getting closer to putting public money into cryptocurrencies effort, spurred by President Donald Trump since he announced plans to do the same on a federal level. And Texas is now among the leading contenders. On Thursday, the Texas state senate passed the so-called SB 21 bill which would allow the state […]<\/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-16577","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\/16577","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=16577"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16577\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}