Key Takeaways
- SB 21 outlines the creation of the Texas Strategic Bitcoin Reserve, a state-administered fund that would allow the Comptroller’s office to invest a portion of public money into Bitcoin.
- If the bill passes, it will head to Governor Greg Abbott’s desk for final approval,
A proposal to make Texas the first state in the nation to formally hold Bitcoin as a strategic reserve asset is now just one vote away from becoming law.
On May 7, the House Committee on Government Efficiency voted 9–4 along party lines to advance Senate Bill 21 (SB 21), a Republican-sponsored measure that would direct the state to purchase and manage Bitcoin holdings. The bill now moves to the full Texas House, where a final vote will decide its fate.
The bill previously passed the Texas Senate with a commanding 25–5 vote in early March.
SB 21 outlines the creation of the Texas Strategic Bitcoin Reserve, a state-administered fund that would allow the Comptroller’s office to invest a portion of public money into Bitcoin. Under the plan, the comptroller—currently Glenn Hegar—would be empowered to buy and securely store the digital currency on behalf of the state. The bill also mandates routine audits and public disclosures to ensure transparency.
Supporters frame the initiative as a proactive hedge against inflation and currency instability. The legislation points to Bitcoin’s decentralized, finite supply as a key strength, portraying the asset as a modern tool to bolster financial resilience in a rapidly evolving global economy.
The bill includes a requirement that any digital asset added to the reserve must have had a market capitalization of at least $500 billion over the past year—a threshold that, for now, only Bitcoin meets. This effectively locks in BTC as the reserve’s sole eligible asset unless another cryptocurrency achieves comparable scale.
If signed into law, Texas would become the third U.S. state to formally adopt a Bitcoin reserve, following recent legislative moves in New Hampshire and Arizona. Together, these state-level efforts mark a growing trend: governments experimenting with crypto as more than just a speculative asset, but as a pillar in fiscal planning.
“This is about securing the financial future of Texas in a world that’s changing fast,” said one lawmaker during the committee hearing. “We’re not waiting for Washington to act—we’re taking the lead.”
A full House floor vote is expected in the coming days. If the bill passes, it will head to Governor Greg Abbott’s desk for final approval.
This latest development comes amid Arizona Governor Katie Hobbs signing House Bill 2749, allowing the state to claim ownership of abandoned crypto if the owner fails to respond to communications within three years.
