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Texas just made history by becoming the first U.S. state to create a publicly funded Bitcoin reserve. Governor Greg Abbott signed Senate Bill 21 into law over the weekend, allowing the state to set aside $10 million to buy Bitcoin. Unlike other states that have shown interest in digital assets, Texas is proving its commitment by putting real money on the line. Lone Star State becomes the first in the U.S. to officially fund a Bitcoin treasury
$10M Bitcoin Bet Is Now Official
The newly signed law directs the state to build a Bitcoin reserve that will be managed independently from the state’s main treasury. The Texas Bitcoin reserve will be managed by the state comptroller with guidance from a three-member crypto advisory committee. Along with direct purchases, the fund may grow through forks, airdrops, profits, or public donations. A detailed public report will be released every two years.
This makes Texas stand out from states like Arizona and New Hampshire, which approved similar legislation but never actually funded their crypto reserves.
The $10 million may sound small for a state the size of Texas, it’s just 0.0004% of the overall state budget, but crypto experts say it’s a big step forward. Lee Bratcher, president of the Texas Blockchain Council, says this sends a powerful signal that Texas is ready to lead in the future of finance. In addition, only cryptocurrencies with a market cap of over $500 billion can be included, a threshold that only Bitcoin currently has.
Bitcoin Reserve Gets Extra Legal Protection
Alongside Senate Bill 21, Governor Abbott also signed HB 4488. This bill makes sure that the Bitcoin held by the state isn’t accidentally swept into the general budget during financial reshuffling. In other words, Texas wants to keep its Bitcoin stash safe and untouched.
This move comes as the Trump administration works on building a national crypto reserve, though the federal version plans to rely on crypto seizures or bond issuance instead of direct funding.
Texas, however, is making its crypto ambitions crystal clear. Bitcoin isn’t just a speculative asset anymore, and with more support from US states, it’s part of the state’s financial future. The move could spark interest from other states looking to modernize their treasury strategies. For now, Texas is the first to step up and put Bitcoin on the books, literally.
FAQs
Why did Texas invest $10 million in Bitcoin?
Texas aims to position itself as a crypto-forward state and hedge against fiat currency risks. With Senate Bill 21, the state officially allocated $10M to Bitcoin as a signal of long-term confidence in digital assets and financial innovation.
Could Texas start accepting Bitcoin for taxes or state services?
Not yet, but this move lays the foundation for such innovations in the future. If this reserve performs well and the legal framework strengthens, Bitcoin payments could become a viable option
How does the Texas Bitcoin reserve differ from similar proposals in Arizona and New Hampshire?
Unlike Arizona and New Hampshire, which passed laws but didn’t allocate actual funds, Texas has put $10 million into its reserve. This shows real financial commitment, making Texas the first state to officially fund and manage a crypto treasury.
What’s HB 4488, and how does it protect the Bitcoin reserve?
HB 4488 ensures that Texas’s Bitcoin reserve stays separate from the general state budget. It protects against budget reshuffling, ensuring Bitcoin isn’t sold or moved unless explicitly approved.
