Texas to Hold Hearing on $500M Bitcoin Reserve Bill on April 23, 2025

Texas has scheduled a public hearing for April 23, 2025, to discuss a bill establishing a Strategic Bitcoin Reserve, allowing the state to invest $500 million in Bitcoin yearly. The announcement boosted Bitcoin’s price by 1%. The bill has passed several Senate stages and its outcome is highly anticipated by the crypto community.

Texas is set to hold a public hearing on April 23, 2025, regarding a proposed bill to establish a Strategic Bitcoin Reserve. The announcement, shared by Crypto Rover on Twitter, has generated significant interest within the cryptocurrency community. If the legislation is approved, Texas would commit to acquiring $500 million in Bitcoin annually.

Following the news of the bill, Bitcoin’s price saw an increase of approximately 1%, surpassing the $85,000 mark as reported by CoinMarketCap. This rise occurred despite a notable decline in Bitcoin’s 24-hour trading volume, which dropped by 28.81% to $13.41 billion, suggesting robust trader activity bolstered by anticipated institutional support.

The bill has successfully navigated various stages in the Texas Senate, including several votes and readings earlier in March. As the House hearing approaches on April 23, stakeholders in the crypto community are keenly observing the developments, as the outcome could mark a pivotal moment in Texas’s approach to incorporating Bitcoin into state reserves.

For further context, the Arizona Crypto Reserve Bill SB 1373 has also recently passed its House Committee, highlighting a growing trend in state-level cryptocurrency initiatives.