This year, the Legislature of Texas passed a law to establish a strategic bitcoin reserve in the state, opening the door for other cryptocurrencies in the future. According to the original sponsor of the bill, Ether may be the next reserve.
In a conversation with Cointelegraph on Thursday, Texas State Senator Charles Schwertner discussed the implementation of Bitcoin (Btc) Reserve Bill signed by law by Governor Greg Abbott in June. Although the text of the bill Provides -Daan Texas to hold other cryptocurrencies in a “special funding out of state treasury,” Bitcoin alone to meet the requirements at the time of passing.
“I’m really interested in seeing the speed at which they established the reserve and how it acts from a stand,” Schwertner said. “If the Ethereum retains its market cap for 24 months, I think it makes sense to provide direction that Ethereum can be added to cryptocurrency (reserve).”
Under the law to promote and administer a Texas strategic bitcoin reserve, for any cryptocurrency to qualify as a reserve of property, it must “have an average market capitalization of at least $ 500 billion in the latest 24-month period.” Bitcoin, with a market capitalization of over $ 2 trillion, meets this threshold.
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By comparison, ether (Eth) only maintains a market cap of over $ 500 billion twice: for almost a month to 2021 and off and from August to October this year. On Friday, the price of ETH and its The market cap has fallen hardeventually reached nearly $ 494 billion at the time of publication.
How is Texas law different from those passed in other states?
While many US states have refused or otherwise failed to advance similar bills that have established crypto reserves, Arizona and New Hampshire signed the law in 2025. Arizona funds included the crypto seized by criminal uprising, while New Ompshire’s News laws The State Treasury is allowed To use funds to invest in crypto with a market cap of over $ 500 billion.
“We are the only state that really puts the sovereign money, taxpayer money, to the reserve,” Schwertner said, and added: “We took the whole blow (establishment) of a reserve as well as the money behind it.”
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According to the senator, the state of the comptroller is looking for law enforcement, including carers for reserve handling. Under the conditions of the law, any career should be a “state or federal chartered financial institution” or other Texas -controlled creatures.
Law in Texas, as well as others considered -alang, followed the federal government Under US president Donald Trump established the same “strategic bitcoin reserve” and a “digital asset stockpile” in March. The Executive Order laid out the rules to use the confiscated crypto to fund the reserve, but The officials added That there are “neutral budget methods” to buy BTC.
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