Texas Bitcoin reserve faces a decisive reading this week

The CEO of the Satoshi Action Fund, Dennis Porter, warned about the urgency of advancing with the second reading of the SB 21 project in the Texas House of Representatives, a crucial stage before the final vote that could place Bitcoin (BTC) in the heart of public finances of the second largest state in the US.

“It is the necessary step,” Porter declared this Saturday in his X account, noting that before the final vote it was scheduled to make a second reading of the project This Tuesday, May 20when there are only a few days left for the Texas Legislature to enter recess.

According to activist and bitcoiner, the narrow time window Leave little margin for errors if you want to take the proposal to the governor’s signature Greg Abbott, before the end of May.

It should be noted that the legislature plans to close its current session on June 2, so some fear that the project will expire in case of not being approved before that date. If this occurs, it must be reintroduced in the next legislature.

The SB 21 project, entitled Texas Strategic Reserve and Investment Law, It has already overcome two important obstacles: It was approved by the State Senate on March 6 with a 25-5 vote, and by the Chamber Committee on May 7 with 9 votes in favor and 4 against, as reported by cryptootics. Now he faces his second reading in the Plenary, a step prior to the final vote.

The legislation would allow the state of Texas to acquire, guard and administer Bitcoin as part of a strategic reserve. The objective is to protect the State against inflation and economic volatility, while strengthening its long -term financial independence.

While there is some concern regarding the possible expiration of the project, given the little time left before the recess of the Legislature, many are optimistic with the result. The Bitcoin Laws specialized site provides positive vote results, arguing that Republicans They have an 89-62 advantage in the Texas representatives.

If the reservation is approved, Texas would become the third state of the United States. Uu. In having a formal BTC reservefollowing the steps of New Hampshire and Arizona. In May, New Hampshire became the first to approve similar legislation.

Porter and other defenders of the initiative see in this law a historical opportunity to position Texas as leader in the institutional adoption of Bitcoin within the United States. However, the clock progresses and the reading that will be made this May 20 will be decisive.