Texas Senate passes Bitcoin Reserve Bill with 80% votes in favor
The proposal now moves to the House of Representatives, where Republicans are in majority. There it will require another vote to reach the Governor and become law, but the progress is very encouraging.
Several other state-level reserve proposals failed due to Republican Party defections. In Texas, most Democrats voted in favor (the final vote was 25 – 5, with 11 Democrat Senators).
This bill does not trigger mandatory Bitcoin purchases yet, which was a major sticking point with fiscal conservatives. If the State government wishes to purchase Bitcoin, it can do so. Essentially, these bills would trigger up to $23 billion in Bitcoin purchases nationwide.
Texas could join in this process States like Utah and Arizona.
Image: the Bitcoin Reserve race in the US States
Source: https://beincrypto.com/texas-bitcoin-reserve-passes-senate-vote/