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Texas Senate Considers Bitcoin Reserve Legislation
The Texas Senate Committee on Business and Commerce has unanimously approved the Texas Strategic Bitcoin Reserve and Investment Act, proposed by Republican Chair Charles Schwertner. This legislation aims to allocate a portion of the state's $24 billion surplus into Bitcoin investments. The bill now advances to the full Senate for consideration. Schwertner emphasized the importance of this move, stating it represents a strategic investment in Texas' financial future. If enacted, Texas would join over 20 U.S. states exploring Bitcoin reserve policies.