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Texas House committee passes Bitcoin reserve bill for full floor vote.

A Texas House Committee has passed a Republican-backed bill to create a Bitcoin reserve, which now only needs a successful full floor vote before heading to the governor’s desk.

The Texas House Committee on Delivery of Government Efficiency passed Senate Bill 21 with no amendments on May 7 in a 9-4 vote along party lines. The bill has already passed the Texas Senate, in a 25-5 vote on March 6.

SB 21 would establish the “Texas Strategic Bitcoin Reserve,” controlled by the state’s comptroller — currently Glenn Hegar — who would be permitted to invest in digital assets that have obtained a market cap of at least $500 billion over the last twelve months, which would currently only include Bitcoin (BTC).

Republican Senator Charles Schwertner initially introduced SB 21 in January as a Bitcoin-only bill.

However, the bill was refiled to include the potential inclusion of other digital assets in February.

Bitcoin Laws founder Julian Fahrer said on X that the fate of SB 21 should be determined before June 2, when the Texas legislature adjourns.