The first public hearing on the establishment of a potential strategic bitcoin reserve in Texas is scheduled for Feb. 18, less than a week before the Senate secretary receives the bill, according to the Texas government website. While the move is a positive step for bitcoin adoption, according to dispatch analyst Iliya Kalchev of cryptocurrency lending platform Nexo, the hearing could be just a "symbolic move" by the cryptocurrency market. "The consideration of bitcoin as a reserve asset in Texas is another step in bitcoin's path to institutional legitimacy, but moves at the state level tend to create ripples rather than waves compared to ETF inflows or corporate treasury allocations," said Mr. Kalchev. "Unless hearings announce near-term buying plans or major policy shifts, the market reaction is likely to be muted, as Texas is well known for its support of cryptocurrencies."