Texas lawmaker behind state’s crypto reserve bill: Ether may be next

Texas has recently established a strategic Bitcoin reserve, paving the way for other cryptocurrencies to potentially be included in the future. Senator Charles Schwertner, who sponsored the bill, indicated that Ether could be considered next as a reserve asset if it maintains a sufficient market capitalization over the next two years. According to the law, any cryptocurrency aiming for reserve status must have an average market capitalization of at least $500 billion over a 24-month period. Currently, Bitcoin exceeds this threshold, but Ether has only met it briefly in the past. Other states, like Arizona and New Hampshire, have also ventured into crypto reserves, but Texas stands out for using taxpayer money for its Bitcoin reserve. The state aims to track the reserve's performance and best practices for future potential additions like Ethereum.

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