U.S. Senator Charles Schwertner has introduced Senate Bill 778 (SB 778), which, if passed, would make Texas the first state in the United States to establish a strategic bitcoin reserve. Mr. Schwertner stressed that Texas, which has the second-largest economy in the US and the highest concentration of bitcoin miners in the country, should take the lead in adopting bitcoin. The proposal could allow the state to collect taxes, fees and donations in bitcoin.