Texas Edges Closer to Approve Bitcoin Reserves Bill
Texas may soon become one of the first U.S. states to hold Bitcoin as a reserve asset. Senate Bill 21 (SB 21) just passed the House with strong support—101 votes for and 42 against. All that remains is Governor Greg Abbott’s signature.
Inside the Texas Bitcoin Reserves Proposal
The bill, titled the Texas Strategic Bitcoin Reserve and Investment Act, allows the state to invest in digital assets. It applies only to cryptocurrencies with a market cap above $500 billion over the past year. Currently, only Bitcoin qualifies.
The Texas comptroller would be tasked with managing these Bitcoin reserves. Lawmakers see this as a way to hedge state finances and support blockchain innovation within Texas.
Why Texas Wants Bitcoin Reserves
Supporters argue that building Texas Bitcoin reserves will strengthen financial resilience and attract crypto firms. Senator Charles Schwertner and Representative Giovanni Capriglione are leading the effort. They say Bitcoin could become a smart, strategic asset for the state.
Comparing Other State Efforts
New Hampshire is already considering Bitcoin for public reserves. Arizona and Montana introduced similar proposals, but both were shut down. Governors in those states cited market volatility as a major concern. Texas now has a chance to set a new precedent.
Federal Moves Toward Crypto Reserves
National conversations around Bitcoin reserves are also heating up. Senator Cynthia Lummis recently unveiled the BITCOIN Act. It suggests setting up government-run Bitcoin vaults for use in emergencies. This aligns with the broader shift toward digital asset adoption.
Bitcoin Price Movement Adds Momentum
Bitcoin is currently trading at $110,707 as of May 22, 2025. It has climbed 3.21% in the last session. The day’s high was $111,547, and the low was $106,178. These gains could influence how Texas leaders approach the final decision.
Final Step for the Texas Bitcoin Reserves Plan
Governor Abbott now holds the final say. If he approves SB 21, Texas will officially begin building its Bitcoin reserves. This could open the door for other states to explore crypto-backed financial models as well.
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.
