PANews reported on February 17 that according to Cointelegraph, the Texas government website announced that the first public hearing on the establishment of a potential strategic Bitcoin reserve in Texas is scheduled for February 18, less than a week after the Senate Secretary received the bill. Although this move is a positive step for the adoption of Bitcoin, according to Iliya Kalchev, a scheduling analyst at the cryptocurrency lending platform Nexo, the hearing may only be a "symbolic action" in the cryptocurrency market.

“Texas’ consideration of Bitcoin as a reserve asset is another step on the road to institutional legitimacy for Bitcoin, but compared to ETF inflows or allocations from corporate treasuries, state-level initiatives tend to create ripples rather than waves,” Kalchev said. “Unless the hearing results in recent purchases or major policy shifts, the market’s reaction is likely to be muted as Texas’ pro-crypto stance is already well known.”