Texas is one step away from making Bitcoin part of its official reserves. A new bill known as the Texas Strategic Bitcoin Reserve and Investment Act (SB 21) has passed through the House of Representatives with a strong 101-42 vote and is now awaiting the signature of Governor Greg Abbott.
This legislation gives the state comptroller the authority to allocate funds into Bitcoin and potentially other digital currencies with a total market value exceeding $500 billion over the past year. At the moment, Bitcoin is the only cryptocurrency that meets this requirement.
The bill also includes provisions for creating a dedicated Bitcoin reserve. Supporters say the move would add a modern layer to the state’s financial strategy by including digital assets.
Senate Bill 21 outlines a framework that enables Texas to include Bitcoin as part of its reserve strategy. The plan would be overseen by the state comptroller, who would handle the acquisition and management of these digital holdings.
The bill is led by State Senator Charles Schwertner and backed in the House by Representative Giovanni Capriglione. Both lawmakers view the policy as a step toward strengthening Texas’s role in financial and technological advancement.
According to Rep. Capriglione, incorporating Bitcoin is not just about financial diversification—it’s also a message that Texas welcomes innovation in the digital economy.
If Governor Abbott gives his approval, Texas would become the third U.S. state to formally include Bitcoin in its state reserves. New Hampshire has already done so, and Arizona is considering similar legislation.
However, several other states have taken a more cautious stance. In recent months, proposals in Arizona and Montana were blocked, with state leaders expressing concern over the unpredictable nature of crypto markets and their potential impact on public funds.
Texas, with its large and diverse economy, appears to be comfortable taking the risk. Its gross state product of $2.7 trillion ranks among the top ten globally if it were compared to national economies.
Texas has built a reputation as one of the more welcoming states for cryptocurrency businesses. Several major digital currency mining firms have already established operations there, drawn by low energy costs and favorable regulations.
Governor Greg Abbott has also shown consistent support for the industry. He has previously accepted Bitcoin donations for campaign purposes and voiced approval for policies that support blockchain development and innovation.
By moving ahead with SB 21, Texas is reinforcing its image as a forward-thinking state open to emerging technologies.
This legislation comes shortly after Bitcoin reached a new record price, climbing above $109,000. While Bitcoin is often viewed as an alternative to traditional financial assets, its growth has also mirrored renewed investor interest in the broader tech and equity markets.
Rising confidence in digital currencies has led to increased interest from both institutional and retail investors. In this climate, Texas’s move to hold Bitcoin could be seen as part of a broader shift toward acceptance of decentralized assets by public institutions.
The bill now sits on the desk of Governor Abbott. While no official statement has been made, many expect him to give his approval, especially considering his past support for digital assets and financial innovation.
If the bill becomes law, the Texas Comptroller’s Office will be responsible for implementing it. That includes determining how to securely purchase and store Bitcoin, likely with the help of licensed custodians and oversight mechanisms to ensure transparency.
This decision could set the stage for other states to explore similar approaches. Analysts believe Texas may influence national policy discussions on how digital currencies are treated by public financial institutions.
In today’s Bitcoin news today, Texas has taken a major step that could change how states think about financial reserves. By giving Bitcoin a formal place in its treasury, the state is showing confidence in the asset’s long-term relevance.
While critics point to the volatility of crypto, supporters argue that digital currencies like Bitcoin offer new opportunities for growth, diversification, and technological leadership.
What happens next in Texas could pave the way for how other states—and perhaps even the federal government—approach the use of digital assets in public finance.
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