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Texas has handed Senate Bill 21, a measure establishing the Texas Strategic Bitcoin Reserve. This makes Texas the third U.S. state to undertake Bitcoin as a part of its state funding technique, following Arizona and New Hampshire. The invoice, formally titled the “Texas Strategic Bitcoin Reserve and Funding Act”, has cleared each legislative chambers and now heads to Governor Greg Abbott’s desk for remaining approval.
SB21 authorizes the creation of the Texas Strategic Bitcoin Reserve, a particular fund exterior the state treasury, which permits Texas to take a position straight in Bitcoin and different authorized cryptocurrencies, in response to the laws. The measure provides the State Treasurer full authority over the reserve’s administration, together with buying, managing, staking, and doubtlessly liquidating digital belongings.
“The institution of a strategic bitcoin reserve serves the general public objective of offering enhanced monetary safety to residents of this state,” declares the laws.
The State Treasurer will handle the fund below strict circumstances:
- Solely cryptocurrencies with a 12-month common market cap of not less than $500 billion could be bought.
- Property should be saved utilizing “chilly storage” expertise to stop unauthorized entry.
- Third-party companions, together with certified custodians and liquidity suppliers, could also be contracted for operations.
- The usage of staking, and derivatives is allowed if it advantages the reserve.
Funds can come from legislative appropriations, donations from Texas residents, and returns on investments. Whereas the reserve operates independently, the State Treasurer can briefly liquidate it for state money administration below restricted circumstances.
Governor Abbott has not but indicated whether or not he’ll signal the invoice, however his previous assist of Bitcoin suggests a positive end result is probably going.
“Texas is getting concerned early on on this course of as a result of we see the way forward for what bitcoin and blockchain means to the complete world,” stated Governor Abbott in an interview. “Texas desires to be the centerpiece of that. So we’re selling it, we’re advancing it.”
When New Hampshire handed their invoice on Might 6, 2025, CEO and Co-Founding father of Satoshi Motion Dennis Porter remarked that it was only the start and now we’re seeing that imaginative and prescient unfold.
“Satoshi Motion drafted the mannequin, New Hampshire engraved it into legislation, and now each treasurer nationwide can comply with that roadmap,” acknowledged Dennis Porter on X. “HB 302 proves you’ll be able to defend taxpayer cash, diversify reserves, and future-proof state treasuries—all whereas embracing probably the most safe financial community on Earth. New Hampshire didn’t simply go a invoice; it sparked a motion.”