Texas Lawmakers Back Bill for Bitcoin Reserves
Texas is getting closer to establishing its own Bitcoin reserves. The House of Representatives has passed Senate Bill 21 (SB 21) with a 101-42 vote. The bill is now headed to Governor Greg Abbott, who will decide its fate.
What Senate Bill 21 Aims to Do
The legislation, known as the Texas Strategic Bitcoin Reserve and Investment Act, permits the state to purchase digital assets. But it limits eligibility to assets with a market capitalization of at least $500 billion over the past year. Right now, only Bitcoin fits that requirement.
If approved, Texas would create and manage official Bitcoin reserves through the comptroller’s office. The plan seeks to expand the state’s asset portfolio and support innovation in digital finance.
Why Bitcoin Reserves Matter for Texas
Proponents of the bill argue that Texas Bitcoin reserves can enhance economic stability and draw tech investors. State leaders like Senator Charles Schwertner and Representative Giovanni Capriglione view Bitcoin as a valuable long-term asset for the public sector.
Other States Exploring Crypto Reserves
Texas could soon join New Hampshire in holding state-controlled Bitcoin. Arizona tried a similar approach, but the proposal failed to pass. Montana also faced opposition to a related bill. These setbacks show the challenges of introducing crypto at the government level.
Federal Interest
Crypto is gaining attention at the national level. U.S. Senator Cynthia Lummis has introduced the BITCOIN Act. Her proposal includes decentralized Bitcoin vaults run by the Treasury. These would serve as national reserves during economic crises.
Bitcoin Price Snapshot
As of May 22, 2025, Bitcoin trades at $110,707. It’s up 3.21% on the day. The high was $111,547, and the low was $106,178. The recent price surge may influence how fast Texas moves on,
What Comes Next for the Texas Bitcoin Reserves
Governor Abbott’s approval is the final step. If he signs SB 21, Texas will officially begin building its Bitcoin reserve. This would position the state as a national leader in crypto finance and possibly prompt other states to follow suit.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Always do your own research before making any financial decisions.
