PANews reported on March 7 that according to CoinDesk, several U.S. states are increasingly inclined to invest public funds in the field of cryptocurrency after President Trump announced plans for the federal government to take similar actions, and Texas has now become one of the leading competitors in this field. On Thursday, the Texas Senate passed the SB 21 bill, which will allow the state to invest part of its public funds in digital assets, especially Bitcoin. Texas Lieutenant Governor Dan Patrick issued a letter on the passage of the Texas Bitcoin Reserve Act in the Senate: "Establishing the Texas Bitcoin Reserve is a bold move that other states should follow. I stand on the side of President Trump and hope to make Texas the center of America's digital future."

Earlier yesterday, the New Hampshire Bitcoin bill was passed by a House committee with an overwhelming majority . In addition, nearly a dozen states have vigorously promoted the passage of bills allowing similar allocations, while at least five states have encountered setbacks or voted to fail to pass their bills. Utah has been far ahead in various efforts and currently only needs Senate approval to submit the bill to the governor. However, the legislative session will end this week, leaving little time for the Senate to jointly approve the investment of up to 5% of funds in certain public accounts into digital assets with the state legislature.