The House of Representatives in Texas passed SB 21 yesterday, which would create a strategic bitcoin reserve for the state, mirroring the one created by President Trump's executive order.
Yes, but: The House made an amendment to the bill, so it has to go to conference before it passes.
Lee Bratcher, of the Texas Blockchain Council, tells us that he expects it to move through conference easily.
What we're watching: June 1 is the last day Texas could pass a concurrent resolution, however, according to Axios' reading of the legislative calendar, so there is not a ton of time.
What they're saying: "Already the home of crypto mining, this legislative session Texas should become the crypto capital. Governor Abbott looks forward to reviewing this proposal," Andrew Mahaleris, the governor's press secretary, told Axios in a statement.
The big picture: Texas has more reason than most to endorse the original cryptocurrency.
Texas is by far the largest state for bitcoin mining. Using Foundry Mining pool as a proxy, its portion of U.S. Bitcoin mining is almost 3X that of any other state.
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