Texas Advances Landmark Bitcoin Reserve Bill with Stringent Eligibility Criteria

Texas lawmakers have finalized a groundbreaking bill to create a state Bitcoin reserve, introducing strict eligibility requirements for digital assets while explicitly excluding staking provisions. The approved version of Senate Bill 21 mandates that cryptocurrencies must maintain a $500 billion market capitalization for 24 consecutive months to qualify—a compromise between the Senate’s initial 12-month proposal and the House’s more conservative stance. This development comes as Bitcoin’s price stands at 108,555.61 USDT, reflecting the growing institutional interest in digital assets. The bill represents a significant step toward mainstream adoption of cryptocurrencies while ensuring robust safeguards for state reserves. By setting such high market cap thresholds, Texas aims to limit its exposure to volatile or speculative assets, focusing instead on established cryptocurrencies like Bitcoin. The exclusion of staking mechanisms suggests lawmakers remain cautious about newer, untested aspects of the crypto ecosystem. This legislative move could set a precedent for other states considering similar reserves, potentially reshaping how governments interact with digital assets in the long term.

Texas Lawmakers Finalize Bitcoin Reserve Bill, Exclude Staking Provisions

Texas legislators have advanced a landmark bill to establish a state bitcoin reserve, setting stringent eligibility criteria for digital assets while explicitly excluding staking mechanisms. The finalized version of Senate Bill 21 requires cryptocurrencies to maintain a $500 billion market capitalization for 24 consecutive months—a compromise between the Senate’s original 12-month proposal and the House’s more conservative stance.

Notably, the Conference Committee removed provisions that WOULD have allowed the Texas Comptroller to engage in staking activities. This decision positions Texas’ reserve as a passive holder of digital assets rather than an active yield generator. The bill mandates third-party oversight including qualified custodians, liquidity providers, and independent auditors to manage the reserve.

Bitcoin 4-Year Market Cycle Is Broken: BTC Price To $500K Still Possible?

Bitcoin’s once-predictable four-year market cycle has fractured under the weight of new institutional forces. Analysts now observe a shift toward steadier, prolonged growth patterns—a departure from the historical boom-bust rhythm tied to halving events. Michaël van de Poppe notes that deeper liquidity pools and sophisticated risk management frameworks are reshaping price action.

Standard Chartered projects a $500,000 BTC valuation by 2029, citing policy tailwinds and mainstream adoption. This structural evolution may extend to altcoins, offering them sustained momentum rather than cyclical bursts. The market’s new calculus rewards patience over timing.

Bitcoin Outperforms MicroStrategy as Corporate Adoption Widens

Bitcoin’s 13% rally this month to nearly $110,000 contrasts sharply with MicroStrategy’s 3% decline, highlighting a decoupling between the cryptocurrency and its most prominent corporate champion. The divergence has intensified since mid-May, signaling shifting market perceptions of the business intelligence firm’s bitcoin-heavy strategy.

MicroStrategy’s shrinking premium reflects growing competition in corporate bitcoin adoption. Over 113 public companies now hold bitcoin on their balance sheets—11 new entrants in just 30 days—many replicating MicroStrategy’s playbook. The firm’s multiple to net asset value has compressed to 1.80, nearing yearly lows, as its first-mover advantage erodes.

Altcoin Season Is Still Alive—Top Traders Say the Best Is Yet to Come

While Bitcoin continues to dominate the crypto market and break new records, altcoins appear poised for a resurgence. Analysts suggest the current lull may precede a significant rally, with altcoins trading near cyclical lows.

Michael van de Poppe, a prominent crypto analyst, dismisses bearish sentiment, noting altcoins’ depressed valuations against Bitcoin. "The final easy 12-24 months are coming," he tweeted, forecasting substantial gains for altcoin investors before the next market shift.

Market dynamics hint at growing momentum beneath the surface. Bitcoin’s dominance often precedes capital rotation into altcoins—a pattern seasoned traders anticipate. The coming years may present what van de Poppe calls "the money printer" phase for alternative cryptocurrencies.

Cantor Fitzgerald Launches $2B Bitcoin Lending Facility, Funds FalconX and Maple

Cantor Fitzgerald, a Wall Street investment bank, has initiated a $2 billion bitcoin-backed lending program aimed at bolstering liquidity for cryptocurrency firms. The bank’s inaugural financing agreements include digital asset prime brokerage FalconX Ltd. and crypto lender Maple Finance, signaling a strategic push into institutional crypto liquidity solutions.

FalconX secured a bitcoin-collateralized credit facility as part of a broader framework expected to exceed $100 million, while Maple Finance completed its first tranche. This development coincides with a broader resurgence in crypto lending markets, which reached $36.5 billion in Q4 2024 after recovering from the 2022 industry downturn.