Odaily News Texas Senator Charles Schwertner has resubmitted the state’s strategic bitcoin reserve bill, which would allow the state to invest in bitcoin or cryptocurrencies with a market value of at least $500 billion with no purchase limits. Texas Lieutenant Governor Dan Patrick previously announced that the state's SBR bill will be one of the Senate's 40 priority bills for 2025.

Odaily News Michigan Congressmen Bryan Posthumus and Ron Robinson filed HB 4087 on February 13, proposing to amend the state's Management and Budget Act to establish a strategic reserve of Bitcoin. The bill allows the state treasury to invest in cryptocurrencies from the general fund and the economic stabilization fund, with a cap of 10%, and to hold crypto assets through secure custody solutions or ETF products of registered investment companies. The bill also allows the state government to obtain additional income through cryptocurrency lending. Currently, 20 states across the United States have proposed similar bills. (Cointelegraph)

Odaily News Texas lawmakers have reintroduced a bill to establish a strategic Bitcoin reserve, now designated SB 21, which allows investments in additional cryptocurrencies. Senator Charles Schwertner announced the bill on February 12, emphasizing that it would make the state the first to establish a cryptocurrency reserve, potentially promoting innovation and "financial freedom." The new legislation builds on SB 778, an old bill introduced in January that focused on Bitcoin. SB 778 restricted state governments to buying and holding Bitcoin and not using it for other operations, while SB 21 expands the scope to allow investments in cryptocurrencies that maintain a market value of at least $500 billion over the course of a year. However, Bitcoin is currently the only cryptocurrency that meets this criterion. (Jinshi)

Odaily News U.S. Senator Cynthia Lummis called for the use of Bitcoin to upgrade the U.S. reserves, saying: "Bitcoin reserves can be audited at any time using a basic computer."

Odaily News According to market news, Montana's strategic Bitcoin reserve legislation has passed the committee and is about to enter the House of Representatives voting stage. It was previously reported that on February 9, Montana House Bill No. 429 would authorize the state treasurer to invest up to $50 million from the general fund in "digital assets with a market value of more than $750 billion," namely Bitcoin, by July 15, 2025. These investments must be held by qualified custodians or made through trading platform funds.

Odaily News According to Bitcoin Magazine, a Montana committee passed a bill that would allow the state to invest in Bitcoin as its reserves, and the bill now moves to the House of Representatives.

Odaily News Legislation allowing Bitcoin investment in Utah has been approved by a state Senate subcommittee. The HB230 "Blockchain and Digital Innovation Amendment" bill passed the Utah Revenue and Taxation Subcommittee on February 20 with a 4-2-1 vote and is currently undergoing second and third readings before a final Senate vote. The Bitcoin Reserve Act has already passed the House, so if it is approved in the Senate, Utah Republican Governor Spencer Cox only needs to sign the bill for Bitcoin to become a state reserve asset. (Cointelegraph)

Odaily News The Montana House of Representatives voted on Feb. 22 against a proposed bill that would have included Bitcoin as a state reserve asset. The bill proposes to set up a special income account to invest in precious metals, stablecoins and digital assets with a market value of more than $750 billion. Currently, only Bitcoin meets this standard. The bill was opposed by several Republican lawmakers, who believed that this would allow the State Investment Committee to over-speculate with taxpayer funds, which was too risky. Supporters believe that if the bill is not passed, the state government will lose the opportunity to increase its return on funds. At present, the bill has been basically shelved, and if it is to be re-proposed in the future, it needs to be submitted to the legislature for review again. (Cointelegraph)

Odaily News The U.S. state of Georgia has proposed a second Bitcoin reserve bill (SB 228), which would allow the state to invest in unlimited amounts of Bitcoin without any investment restrictions. (Cointelegraph)

Odaily News According to Bitcoin Magazine, South Dakota’s Bitcoin Reserve Act will receive a hearing today before the Commerce and Energy Committee.

Odaily News At the legislative meeting on February 24, local time, the South Dakota House of Representatives Commerce and Energy Committee decided to postpone the HB 1202 bill to the 41st day of this legislative session. However, the state legislative session is only 40 days at most, and this move is equivalent to vetoing the bill, which means that the state will not include Bitcoin as an official investment option for the time being.

Odaily News Cointelegraph posted on the X platform that the Ohio Strategic Bitcoin Reserve Act has passed the committee stage and is one step closer to approval.

Odaily News Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203), which has passed a House committee and entered a full vote, allows up to 10% of public funds to be invested in BTC or digital assets with a market value of more than $500 billion.

Odaily News More than 20 of the 50 states in the United States have proposed or are considering legislation related to Bitcoin reserves or digital asset investments. Currently, five states, including Montana, South Dakota, North Dakota, Pennsylvania, and Wyoming, have had their proposals rejected or blocked. (Decrypt)

Odaily News According to market news, the Texas Bitcoin Reserve Act SB 21 will be submitted to the Senate for deliberation. (Bitcoin Magazine)

Odaily News According to market news, Arizona’s two Bitcoin reserve bills have been passed by the Senate and submitted to the House of Representatives for deliberation. It is reported that SB 1025 was voted through with a vote of “17-11-2”.

Odaily News Fox Business reporter Eleanor Terrett posted on the X platform that Wyoming Senator Cynthia Lummis said that "before we see a federal Bitcoin strategic reserve, we will likely see a state-level BTC strategic reserve." "Currently, there are not enough candidates in the House and Senate to do this."

Odaily News U.S. President Trump will host the first White House Cryptocurrency Summit on March 7, bringing together industry leaders to discuss regulatory policy, stablecoin oversight, and Bitcoin’s potential role in the U.S. financial system. According to an announcement on X-Platform on March 1 by David Sacks, White House special adviser for artificial intelligence and cryptocurrency, attendees will include “prominent founders, CEOs, and investors from the cryptocurrency industry,” as well as members of the President’s Digital Asset Task Force. Sacks was appointed White House Special Advisor for Artificial Intelligence and Cryptocurrency on December 6, 2024, with the task of "developing a legal framework that will give the cryptocurrency industry the clarity it needs and allow it to thrive in the United States." It is worth noting that at least 24 states have proposed legislation related to potential Bitcoin reserves. The upcoming summit may set the tone for cryptocurrency regulation over the next four years. (Cointelegraph)

Odaily News According to market news, Trump said that his digital asset executive order instructs the presidential working group to promote strategic reserves of cryptocurrencies including XRP, SOL and ADA. Trump also said that he would ensure that the United States becomes the world's cryptocurrency capital and is making America great again.

Odaily News Trump wrote on Truth: “Obviously, BTC and ETH will be the core of the reserve, along with other valuable cryptocurrencies. I like Bitcoin and Ethereum too!”

Odaily News Watcher.Guru posted on X that crypto czar David Sacks said "there are more" at the cryptocurrency summit. This may indicate that there are more valuable cryptocurrencies to be added to the crypto reserves.

Odaily News David Sacks wrote on X: “President Trump announced the establishment of a strategic cryptocurrency reserve consisting of Bitcoin and other top cryptocurrencies. This is consistent with Executive Order 14178, which he issued a week ago. President Trump is fulfilling his promise to make the United States the ‘cryptocurrency capital of the world.’”

Odaily News Coinbase co-founder and CEO Brian Armstrong commented on social media about "Trump is advancing the cryptocurrency reserve plan" and said that in terms of asset allocation for strategic reserves, Bitcoin may be the best choice. As the successor to gold, Bitcoin has the simplest and clearest narrative. If people want more variety, they can use market capitalization-weighted indexes for crypto assets to maintain fairness, but it may be easiest to just choose Bitcoin.

Odaily News Arthur Hayes commented on “cryptocurrency reserves” on X: “Nothing new here, just empty talk. Wait until the crypto task force gets congressional approval to borrow money or revalue the price of gold. Without that, they have no money to buy Bitcoin and altcoins.”

Odaily News Placeholder VC partner Chris Burniske retweeted Taproot Wizards founder Udi Wertheimer's views on social media. Udi Wertheimer said that the best interpretation of the strategic reserve so far is that it is just a typical Trump negotiation strategy. To achieve a real reserve, Trump must convince Congress, and he cannot decide on his own. Whenever Trump needs to convince other stakeholders, he always starts with a ridiculous proposal and can back off later, such as the previous Gaza plan, the annexation of Canada, and now the ADA strategic reserve. So, in Trump's "chess game language", this means that he is telling Congress: If you don't agree to the Bitcoin reserve, I will propose more outrageous conditions.

Odaily News Hunter Horsley, CEO of Bitwise, said on X: "I saw Trump's statement today. Like everyone else, I imagined that the strategic reserve would only include Bitcoin, which makes the most sense to me. Many crypto assets have advantages, but we are not talking about the US portfolio here, we are talking about reserves, and Bitcoin is the undisputed means of storing value in the digital age. Of course, I am grateful that the new administration has such a constructive view on this area. Looking forward to learning more ideas here."

Odaily News After Trump announced that altcoins would be included in the US strategic cryptocurrency reserves, although Bitcoin rose 10% in the short term, its market dominance was weakened, falling from 55.4% to below 50% at one point. Analysts believe that the Trump administration’s move not to implement Bitcoin reserves is surprising and do not understand the logic of including altcoins. Bitwise’s strategy director believes that Trump underestimates the importance of crypto strategic reserves focusing on Bitcoin. Even crypto-unfriendly economist Peter Schiff pointed out: "What is the rationale for the XRP reserve? Why is it needed at all? I disagree, we have a gold reserve, Bitcoin is digital gold, so let's create a Bitcoin reserve." (Cointelegraph)

Odaily News Binance co-founder CZ posted on the X platform that Trump mentioned that "BTC, ETH and other valuable cryptocurrencies will be included in the crypto strategic reserve." Now the market's attention is focused on the word "other", paying attention to which other cryptocurrencies will be included, but he hopes to remain calm and there is no need to over-analyze. More "valuable cryptocurrencies" may be added over time, and more countries will follow suit. In addition, CZ also expressed the hope that the community seized the opportunity to "buy on dips", but kept in mind that any decisions and operations must be made by oneself.

Odaily News Eric Trump, Trump's second son, said on X: "I like (Trump's) genius move to announce the strategic reserve on Sunday, because then the traditional markets are closed and Wall Street is asleep. Retail investors win for the first time. Traditional finance better catch up, or it will soon become extinct. The world no longer only runs from Monday to Friday, from 9 am to 5 pm."

Odaily News Influenced by Trump’s recent remarks on cryptocurrency reserves, the probability of “Trump establishing a strategic Bitcoin reserve within 100 days of taking office” on Polymarket has risen to 22%, with the amount of bets being around US$7.74 million. On January 20, the day Trump was sworn in as president, the odds on that bet rose to 48%.

Odaily News Eliézer Ndinga, head of strategy at 21Shares, wrote in an analysis that the overall rise in the crypto market was driven by discussions on the U.S. strategic crypto reserve, "which makes me feel a little too optimistic - I expect that once the market has a clear understanding of the timing and specific details, the market may fall back." The creation of a strategic reserve may require congressional approval, and its components - unlike a simple confiscated asset reserve - need to be detailed to address the following issues: Asset allocation and distribution (e.g., which cryptocurrencies to choose and in what proportions); holding period (e.g., short-term vs. long-term commitment); Holdings relative to the total supply of each asset (e.g. 1% of 21 million Bitcoins); Market integrity measures to prevent large swings or front-running (e.g., limiting daily trading caps); Asset protection, which may involve a selected crypto custodian (e.g., Coinbase or Anchorage), a bank (e.g., BNY Mellon), or multiple providers to avoid single points of failure. This process will take longer than the market expects. Trump may be using his social media influence to present the initial terms he has set for Congress, aiming to negotiate a compromise. However, the draft may hit snags and require revisions, leading to delays that could slow the current hype.

Odaily News According to data from prediction market Polymarket, after Trump issued a statement supporting the establishment of a strategic cryptocurrency reserve, the probability of the United States establishing a national Bitcoin reserve in 2025 soared to 62%. The trading volume of the prediction contract has reached US$980.28 million.

Odaily News In a post on the X platform in response to the community's "ADA has been launched in the United States", Charles Hoskinson, the founder of Cardano, said that perhaps this means that ADA can be renamed "America's Digital Asset". Earlier news, Trump posted on social media that he had instructed the presidential working group to advance the strategic reserves of cryptocurrencies including XRP, SOL and ADA.

Odaily News The cryptocurrency market surged after U.S. President Donald Trump announced a potential strategic crypto reserve, but Aurelie Barthere, chief research analyst at blockchain analysis firm Nansen, said that the rise may be temporary due to the lengthy approval process required to establish a U.S. cryptocurrency reserve. He said: "I think that establishing a reserve by purchasing new tokens is a complex process that requires a vote in Congress and therefore takes time. I am a little concerned about the sustainability of today's move." (Cointelegraph)

Odaily News Jean Rausis, founder of SmarDex decentralized exchange, said that US President Trump's announcement of the establishment of a US strategic cryptocurrency reserve could have a significant boost to cryptocurrencies and showed that the sell-off in recent weeks was "insignificant." "When he (Trump) said he wanted to make the United States the world's cryptocurrency capital, he was serious," Rausis said. "Against this backdrop, the small sell-off we have seen recently is completely insignificant and simply provides an opportunity to buy at a lower price." He said that for cryptocurrency traders, the prospect of cryptocurrency reserves is far more important than worrying that tariffs will hurt interest in risky assets. (Jinshi)

Odaily News Russ Mould, investment director at AJ Bell, said in a report that Bitcoin could rebound to more than $100,000 after the United States announced its strategic cryptocurrency reserves. He said: "The long-awaited confirmation of the US strategic cryptocurrency reserves will help stop the decay of the crypto market and inject new impetus into Bitcoin and others." Mould said that this announcement means that the US government can "regularly purchase cryptocurrencies", thereby driving the rise of Bitcoin. "Investors will pay close attention to the record level above $100,000." (Jinshi)

Odaily News Citigroup said in a research report that after Trump announced over the weekend that XRP, SOL, ADA, BTC and ETH would be included in the crypto strategic reserve, the possibility of the United States establishing a crypto strategic reserve seems greater. Analyst Alex Saunders believes that the US government’s announcement of further plans to become a strategic holder of digital assets will enhance the legitimacy of the asset class. Citi pointed out that the US government currently holds about $19 billion in cryptocurrencies, mainly Bitcoin, while gold holdings reach $750 billion. The bank said that further clarifying the selection criteria for which tokens to include in the reserves will provide more support. (Coindesk)

Odaily News Investment bank TD Cowen said that US President Donald Trump's announcement on Sunday that the United States will establish a crypto strategic reserve holding Bitcoin, Ethereum, XRP, Solana and Cardano appears to be uncoordinated and the source of funds is unclear. TD Cowen's Washington research team wrote in a report, "We caution against overreacting to social media posts. The initial version did not even include Bitcoin and Ethereum as part of the reserve. This shows in our view that it was not coordinated and there was no discussion of how the government would obtain funds to purchase tokens." (Theblock)

Odaily News “It is unclear whether the strategic reserve can be established solely by executive order of the president. If it involves the Fed’s balance sheet, it would require a specific act of Congress. It is also unlikely that the U.S. government would order reserves at the Treasury without involving the Fed’s balance sheet,” Bernstein analysts led by Gautam Chhugani said in a note. Some believe that the U.S. Treasury's Exchange Stabilization Fund (which manages foreign exchange and gold) could be used to purchase cryptocurrencies without immediate congressional approval because it operates under executive control. However, its responsibilities are primarily foreign exchange and financial stability, so using it as a cryptocurrency reserve could face legal and political challenges. (Theblock)

Odaily News Standard Chartered analyst Geoff Kendrick noted that Trump’s crypto reserve plan could provide long-term stability for Bitcoin, with his $500,000 target now in focus as investor interest in the asset grows. Trump’s reserve announcement removes the potential for “adverse outcomes” and opens up space for the cryptocurrency market to start higher. (Theblock)

Odaily News Andrew Tu, head of sales at crypto market maker Efficient Frontier, said that the inclusion of XRP and ADA tokens in Trump's crypto strategic reserve plan was unexpected, and many details of the plan remain unknown, including how much the U.S. government will actually buy and how to fund the purchase. The crypto market has now forgotten all the pessimism of last week, and macroeconomic concerns remain a potential risk. If the stock market also falls, it may cause cryptocurrency prices to fall again. If expectations do not match reality, then the market may fall again. (CNBC)

Odaily News Tyler Winklevoss, founder of Gemini, said that XRP, SOL and ADA are not suitable for being crypto strategic reserves. Currently, there is only one digital asset in the world that meets the criteria, and that is Bitcoin. (Watcher.Guru)

Odaily News Although the crypto community has questioned Trump's inclusion of XRP, ADA, and SOL in the U.S. crypto reserves, analysts believe that Trump chose these tokens because the related projects are all from the United States. The New York Times previously disclosed that Trump has stated that he will establish an "America First" cryptocurrency strategic reserve. Danny Scott, CEO of CoinCorner, analyzed: "Can you imagine Russia buying XRP, which is fully controlled by the American company Ripple, as a strategic reserve? If the United States imposes sanctions, access to XRP can be completely frozen. No country is willing to hold something that can be completely controlled by a single entity, especially a foreign entity. It is a completely new thought process for people. In contrast, Bitcoin is decentralized and no company, country, entity or individual controls it, so it is more reasonable for countries to establish strategic reserves of Bitcoin." (TheBlock)