Texas is one signature away from becoming the third U.S. state to adopt a state-managed Bitcoin reserve. The Texas Strategic Bitcoin Reserve and Investment Act (SB 21) has passed the state’s House of Representatives with a 101-42 vote and now awaits Governor Greg Abbott’s approval.
A Digital Shift in State Treasury Strategy
If signed into law, SB 21 would authorize the Texas Comptroller to invest in Bitcoin and other digital assets—specifically those with a market capitalization exceeding $500 billion over the previous 12 months. At present, Bitcoin is the only cryptocurrency that meets the criteria.
In addition to investment authority, the bill mandates the establishment of a state-held Bitcoin reserve, which would be managed alongside the state’s existing financial holdings.
“This is about financial diversification and securing our position as a global leader in blockchain innovation,” said Senator Charles Schwertner, who sponsored the bill. Representative Giovanni Capriglione, the bill’s House advocate, echoed those sentiments, calling the measure “forward-thinking” in safeguarding Texas’s economic future.
Texas Builds on Its Crypto-Friendly Stance
If enacted, Texas would join New Hampshire and potentially Arizona in formally integrating Bitcoin into public financial reserves. Meanwhile, states like Montana and Arizona have previously blocked similar legislation due to concerns over crypto market volatility.
Texas’s move builds on a broader pro-crypto track record. The state has attracted major Bitcoin mining operations and hosts a regulatory environment that has welcomed digital innovation. Governor Greg Abbott has openly supported cryptocurrency and accepted Bitcoin donations during his political campaigns.
Riding Bitcoin’s Bullish Wave
The timing of SB 21’s passage comes as Bitcoin recently surged past $109,000, reigniting national and institutional interest in digital assets.
With a $2.7 trillion economy—which would rank eighth globally if Texas were a country—the state’s potential entry into Bitcoin treasury holdings could set a precedent for others.
Next Steps
The bill now sits on Governor Abbott’s desk. If signed, Texas will formally codify Bitcoin as part of its financial strategy, reinforcing the state’s ambition to lead the U.S. in blockchain adoption and digital asset innovation.
