Texas Moves Closer to Launching State Bitcoin Treasury—Wall Street Already Side-Eyeing the Play
Lone Star lawmakers just turbocharged a bill that could make Texas the first US state to hold Bitcoin as a strategic reserve asset. The move—straight out of the ’hyperbitcoinization’ playbook—clears its final hurdle before hitting the governor’s desk.
Why it matters: While DC debates crypto regulation, Texas is quietly building a digital gold vault. The bill’s backers claim it’ll future-proof state finances, while skeptics whisper about volatility risks (and whether politicians actually understand UTXOs).
The kicker: If passed, the legislation would let Texas Treasury swap portions of its $60B+ rainy day fund for BTC—a hedge against inflation that’ll either look genius or reckless when the next halving cycle hits. Meanwhile, investment bankers are suddenly very interested in ’public sector blockchain advisory services.’
The Texas House of Representatives has cleared the second reading of the Strategic Bitcoin Reserve Bill (SB 21), moving the state one step closer to officially entering the crypto space. The bill seeks to create the “Texas Strategic Bitcoin Reserve,” which would allow the state to invest in Bitcoin as part of its financial strategy. With the Senate already on board, the proposal now awaits the governor’s final approval. The 8th largest economy in the world will now be allowed to buy Bitcoin. This is indeed a bullish start!
BREAKING:
Texas has just passed the Texas Strategic #Bitcoin Reserve and Investment Act, allowing the state to invest in $BTC.
The bill now awaits Governor’s approval to become law. pic.twitter.com/ybIAAjOEgE
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Laying the Groundwork
While SB 21 doesn’t specify how much bitcoin the state will purchase, it sets up the legal foundation to begin. According to the Texas Blockchain Council, the bill is scheduled for a vote in the House and, if passed, will mark a historic move toward Bitcoin adoption at the state level.
Texas is following in President Trump’s footsteps by calling for a national Bitcoin reserve. However, other states like New Hampshire and Arizona have already passed similar measures, beating Texas in the race to lead U.S. crypto integration.
What’s Next?
Lee Bratcher of the Texas Blockchain Council told Axios that while SB 21 sets up the reserve, separate legislation is being prepared to decide how much Bitcoin the state will actually allocate to the fund. That decision, however, remains pending.
If signed into law, Texas could soon become a major player in government-backed Bitcoin investments, further cementing the state’s pro-crypto stance.
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FAQs
What is the Texas Strategic Bitcoin Reserve Bill (SB 21)?SB 21 creates a legal framework for Texas to invest in Bitcoin as part of its financial strategy, pending governor’s approval.
What’s the significance of Texas buying Bitcoin?As the 8th largest economy, Texas entering Bitcoin investment WOULD be a major move, solidifying its pro-crypto stance.
Which cryptocurrencies are eligible for Texas’s reserve?Bitcoin and others with a $500B market cap sustained over 24 months are eligible.
Who will manage Texas’s Bitcoin reserve?The Texas Comptroller will oversee the reserve, with guidance from an advisory committee.
