Texas Pioneers State-Level Bitcoin Reserve as SB 21 Advances

Texas lawmakers have taken a historic step toward establishing the nation’s first state-level Bitcoin reserve, with Senate Bill 21 clearing its second House vote with strong bipartisan support. This move positions Texas, the world’s eighth-largest economy, for direct cryptocurrency exposure and marks a significant milestone in institutional adoption. The proposed Strategic Bitcoin Reserve could set a precedent for other states and further legitimize Bitcoin as a reserve asset. As of May 21, 2025, Bitcoin’s price stands at 106,401.23 USDT, reflecting growing confidence in its long-term value proposition.

Texas Nears Historic Bitcoin Reserve Adoption as SB 21 Clears Second House Vote

Texas lawmakers have taken a decisive step toward creating the nation’s first state-level Bitcoin reserve. Senate Bill 21 passed its second House reading with overwhelming bipartisan support (105-23), positioning the world’s eighth-largest economy for direct cryptocurrency exposure.

The proposed Strategic bitcoin Reserve would mark a watershed moment for institutional adoption. With a $2.6 trillion GDP surpassing entire nations like Russia and Canada, Texas’ move could catalyze broader government cryptocurrency strategies globally.

Final approval now hinges on a third reading before reaching the Governor’s desk. The legislation’s progress reflects growing recognition of Bitcoin’s role as a strategic asset at the highest levels of government.

States’ Strategic Bitcoin Accumulation Could Propel BTC to $500,000

Sovereign states are increasingly gaining indirect exposure to Bitcoin through strategic investments in firms like MicroStrategy, circumventing traditional regulatory hurdles. This institutional pivot underscores Bitcoin’s evolving role as a macroeconomic hedge asset.

Standard Chartered analysts reaffirm their $500,000 price target for Bitcoin by 2029, citing this trend as a key catalyst. The bank’s projection hinges on Bitcoin’s deepening integration into sovereign wealth portfolios and its perceived store-of-value properties.

Market observers note that such state-level adoption marks a paradigm shift. Bitcoin’s maturation from speculative asset to institutional reserve component mirrors gold’s historical trajectory, albeit at an accelerated pace.

Xapo Bank Bridges Gap Between Bitcoin Wealth and Traditional Banking

Xapo Bank emerges as a hybrid solution for high-net-worth Bitcoin holders seeking both institutional-grade security and traditional banking services. The Gibraltar-regulated institution combines cold storage custody with fiat-like spending capabilities through a metal debit card.

Unlike unregulated exchanges, Xapo’s licensed VASP status provides legal clarity for large BTC holdings. The platform enables members to leverage Bitcoin collateral for liquidity without selling positions—a critical feature for long-term holders during volatile markets.

Security protocols developed since 2013 include multi-signature vaults and real-time threat monitoring, addressing the custody concerns that plague many crypto natives. This comes as institutional investors increasingly demand regulated on-ramps for digital asset exposure.

Bitcoin’s Rally Above $100K Shows Signs of Sustainability Compared to January’s Short-Lived Surge

Bitcoin has reclaimed the $100,000 threshold, sparking debates about whether this rally will mirror January’s fleeting momentum. Market dynamics now suggest a more durable upward trajectory.

Financial conditions—including Treasury yields and dollar strength—paint a firmer macroeconomic backdrop for Bitcoin this time. The cryptocurrency’s resilience contrasts with its abrupt retreat to $75,000 earlier this year.

Strive Enterprises Targets $7.9B in Distressed Mt. Gox Bitcoin Claims for Discounted BTC Accumulation

Strive Enterprises, an Ohio-based financial services firm, is making a strategic play to acquire distressed Bitcoin claims at a discount. Partnering with 117 Castell Advisory Group, the firm aims to purchase claims tied to legal judgments and pending distributions, including those from the 2014 Mt. Gox bankruptcy.

The Mt. Gox claims, totaling approximately 75,000 BTC (worth around $8 billion), represent one of the largest pools of locked-up Bitcoin in history. While payouts from the defunct Japanese exchange have been slow, Strive sees an opportunity to gain BTC exposure below market value, betting on long-term outperformance.

A Monday SEC filing outlined the firm’s strategy to capitalize on discounted Bitcoin assets. The MOVE highlights institutional interest in alternative avenues for crypto accumulation beyond traditional market purchases.