Texas lawmakers, in discussions facilitated by the Satoshi Action Fund, are exploring the possibility of introducing strategic Bitcoin reserve legislation. Dennis Porter, CEO of SAF, indicated that these preliminary conversations, which took place during the North American Blockchain Summit, could lead to significant financial implications for the state, given its substantial economy. Porter emphasized the protection that a Bitcoin reserve could offer against foreign adversaries potentially manipulating Bitcoin prices and hurting American miners. This concept has gained traction in other states as well, with initiatives in Pennsylvania allowing its treasury to hold Bitcoin and Senator Cynthia Lummis advocating for a national Bitcoin fund. Additionally, Porter compared the potential impact of a Bitcoin reserve to historical U.S. territorial expansions. Current efforts appear to be fostering a competitive environment among states to see who can establish such a reserve first.

Source 🔗