- The Texas Senate has passed SB 21, creating the state’s first Bitcoin Reserve for digital growth.
- Texas Bitcoin Reserve to hold BTC and top cryptos, which the state comptroller will oversee.
- The state joins 18 other states, including Arizona and Utah, in advancing cryptocurrency reserves.
The Texas Senate has approved Senate Bill 21 (SB-21), establishing the state’s first-ever Bitcoin Reserve. Introduced by Senator Charles Schwertner, the legislation received bipartisan support, passing with a 25-5 vote on March 6, 2025. Lt. Governor Dan Patrick hailed the initiative as a landmark step toward Texas’ digital future. He stated,
I promised to make a Texas Bitcoin Reserve a priority to solidify Texas’ leadership in the digital age. Today, the Texas Senate delivered on that promise by passing SB 21 with both Republican and Democrat votes to create the Texas Bitcoin Reserve.
The lieutenant governor emphasized Bitcoin’s fundamentals as key factors in the decision. “Some have called Bitcoin ‘digital gold,’ and I believe its limited supply and decentralized nature make it a critical asset for Texas’ future,” he noted.
Senate Bill 21 establishes the Texas Bitcoin Reserve under the administration of the Texas Comptroller. According to the legislation, the fund will contain Bitcoin and other cryptocurrencies with a market capitalization of at least $500 billion. The bill also authorizes appropriations into the newly created fund and allows for funding through the state budget.
The Texas Bitcoin Reserve comes shortly after President Donald Trump signed an executive order establishing a strategic Bitcoin reserve and U.S. digital asset stockpile. This executive action fulfills Trump’s campaign promise to position the United States as the “crypto capital of the world.”
The Texas Comptroller’s Office has not yet released details on the timeline for establishing the reserve or the specific acquisition strategy they plan to employ. However, the reporting requirement ensures that the public will have visibility into the reserve’s development over time.
While President Trump has signed orders to explore the possibility of a national Bitcoin stockpile, state-level initiatives on cryptocurrency reserves appear to be advancing more quickly. Texas has joined a broader movement of states considering cryptocurrency reserves, with at least 18 states currently reviewing related bills.
Related: Trump Signs Order for U.S. Strategic Bitcoin Reserve
Arizona and Utah are among those closest to approval. While some states may express opposition, support for cryptocurrency appears to be growing across the lines. Utah, in particular, is leading in these efforts and is one Senate vote away from sending a bill to the governor for approval.
New Hampshire has also made progress in cryptocurrency adoption. House Bill 302, which would allow the state to invest up to 5% of public funds into Bitcoin and other precious metals, passed a state house committee on Wednesday with a 16-1 vote.
