In a decisive 25-5 vote, the Texas Senate passed Bill SB-21 on March 6, paving the way for the creation of a state-backed Bitcoin and cryptocurrency strategic reserve. The move underscores Texas’ pro-crypto stance, reinforcing its position as a leader in U.S. Bitcoin adoption and financial innovation.
The bill, introduced by State Senator Charles Schwertner, aims to diversify Texas’ balance sheet by holding Bitcoin as a long-term store of value, drawing comparisons to gold rather than a direct competitor to the U.S. dollar.
“Bitcoin is a scarce and valuable asset, and having a strategic reserve will strengthen Texas’ financial position in the long run,” Schwertner argued on the Senate floor.
Bitcoin-Only to Multi-Asset: The Evolution of SB-21
Originally, SB-21 focused solely on Bitcoin accumulation, positioning Texas as a pioneer in state-level BTC adoption. However, following U.S. President Donald Trump’s Jan. 23 executive order, which directed a federal commission to explore a national digital asset stockpile, lawmakers refiled the bill in February 2025 to expand the reserve’s scope to include other digital assets.
Despite concerns over regulatory uncertainty, lawmakers reassured that Bitcoin’s role as a digital gold-like asset aligns with long-term investment strategies rather than a direct challenge to the dollar’s global dominance, according to Cointelegraph.
What’s Next for Texas’ Bitcoin Reserve?
- Implementation Phase – The state will establish a framework for acquiring and securely storing Bitcoin and other digital assets.
- Regulatory and Security Measures – Lawmakers will outline protocols for managing volatility and security risks.
- Potential Expansion – If successful, Texas may increase crypto holdings, potentially influencing other U.S. states to follow suit
