According to Cointelegraph, the Texas House Committee has passed Bill SB 21, which proposes the establishment of a state-level Bitcoin reserve. The bill passed with a vote of 9-4, having previously received overwhelming support in the state Senate with a 25-5 vote. The bill stipulates that the state comptroller will be responsible for managing the digital asset reserve, and the investment targets must have a market capitalization of no less than $500 billion over the past 12 months, with Bitcoin currently being the only asset meeting this requirement. The initial version of the bill was limited to Bitcoin, but it was amended in February to include other eligible digital assets. If it receives full approval from the House by June 2, it will be submitted to Governor Greg Abbott for signing. Abbott has long supported the development of cryptocurrency, having accepted Bitcoin political donations in 2014 and publicly stated last year his intention to make Texas the "crypto capital of America."