In a move aimed at enhancing financial stability and technological innovation, the state of Texas proposed a bill to create a strategic reserve of Bitcoin. In December 2024, Republican Representative Giovanni Capriglione proposed a bill that allows the state to accept Bitcoin as a means of paying taxes, fees, and donations, while holding these assets for no less than five years.
In January 2025, Senator Charles Schwertner introduced Senate Bill No. 778, known as the "Texas Strategic Bitcoin Reserve Act," which aims to establish a state-managed reserve of Bitcoin. This legislation emphasizes the importance of Texas being at the forefront of adopting digital currencies, thereby enhancing economic resilience and innovation in digital finance.
In February 2025, the Texas Senate Business and Commerce Committee unanimously approved Bill No. 21, indicating tangible progress towards the establishment of this strategic reserve.
This trend demonstrates Texas's commitment to fostering innovation in the field of digital assets and its ability to hedge against inflation and economic volatility, reinforcing its position as a leading state in the digital economy.