Texas to Hold Public Hearing on $500M Bitcoin Reserve Bill

Texas will hold a public hearing on April 23, 2025, regarding a bill to create a Strategic Bitcoin Reserve. If approved, Texas could purchase $500 million of Bitcoin annually. Following the announcement, Bitcoin’s price increased, while its trading volume fell significantly. The bill has passed through multiple Senate stages, and attention is focused on its potential historic significance for Bitcoin reserves in Texas.

On April 23, 2025, Texas is set to hold a public hearing regarding a bill designed to establish a Strategic Bitcoin Reserve. This significant proposal, which was initially reported by Crypto Rover on Twitter, has generated considerable excitement within the cryptocurrency community. If the bill is approved, the state would be permitted to invest $500 million in Bitcoin annually.

The announcement resulted in a roughly 1% increase in Bitcoin’s price, surpassing $85,000, as reported by CoinMarketCap. Despite this upward price movement, Bitcoin’s 24-hour trading volume experienced a 28.81% decline, reaching $13.41 billion. This notable decrease indicates robust trading activity, exhibiting growing institutional confidence in Bitcoin.

The legislation has successfully navigated several critical phases within the Texas Senate, including various votes and readings during March. With the House hearing approaching on April 23, stakeholders in the cryptocurrency sector are keenly observing whether Texas will take a landmark action to incorporate Bitcoin into its official reserves.

Additionally, it is worth noting that Arizona has also made progress with a similar initiative, as their Crypto Reserve Bill SB 1373 recently passed through the House Committee.