Texas Approves Strategic Bitcoin Reserve Bill, Awaits Governor's Signature
The Texas House of Representatives has officially passed Senate Bill 21 (SB 21), known as the Texas Strategic Bitcoin Reserve and Investment Act, with a 101–42 vote. This legislation establishes a state-managed Bitcoin reserve, positioning Texas as the third U.S. state to adopt such a measure, following New Hampshire and Arizona .
SB 21 authorizes the Texas Comptroller to create a special fund outside the state treasury to invest in Bitcoin and other cryptocurrencies that have maintained a market capitalization of at least $500 billion over the past 24 months. Currently, only Bitcoin meets this criterion . The reserve aims to serve as a hedge against inflation and economic volatility, enhancing the state's financial resilience .
The bill now awaits the signature of Governor Greg Abbott, who has previously expressed support for cryptocurrency initiatives. If signed into law, Texas will further solidify its position as a leader in state-level crypto adoption.
