Texas Lieutenant Governor proposes Bitcoin reserve for 2025

Texas Lieutenant Governor Dan Patrick has introduced plans to ascertain a “Texas Bitcoin Reserve” as a part of his prime legislative priorities for the 2025 session. 

The proposal underscores Texas’ ongoing push to combine Bitcoin (BTC) into its monetary technique and reinforce its standing as a blockchain-friendly state.

“During the last 4 years, the Texas Senate held the road, preventing again towards President Biden’s disastrous agenda,” Patrick mentioned. “Now, with President Trump again in workplace, Texas has a buddy within the White Home.”

Texas has seen tensions between crypto miners and the federal government, highlighted by a current lawsuit from a mining agency, Lejilex, against the SEC over crypto regulation and token classification.

In Feb. 2024, The Texas Blockchain Council and Riot Platforms sued the U.S. Division of Power, the EIA, and the OMB, difficult the emergency knowledge assortment on crypto mining vitality use. They argue the actions violate the Paperwork Discount Act and mirror broader regulatory overreach by the Biden Administration.

Arizona advances its personal Bitcoin reserve invoice

Texas isn’t alone in its efforts. In Arizona, the Senate Finance Committee recently approved SB1025, often known as the “Arizona Strategic Bitcoin Reserve Act.” The invoice, co-sponsored by State Senator Wendy Rogers and Consultant Jeff Weninger, would enable the state to take a position as much as 10% of its public funds—together with state treasury and retirement system reserves—in Bitcoin and different digital property.

With a 5-2 vote in Arizona, the invoice now strikes to the Senate Guidelines Committee earlier than heading to a full Senate vote.

If handed, Arizona would be part of Texas in positioning Bitcoin as a strategic monetary asset on the state stage. These strikes mirror a rising pattern amongst U.S. states seeking to combine cryptocurrency into their monetary frameworks.