Texas Inches Closer to Bitcoin Treasury Move—Will Governor Greenlight the Third State Reserve?
Lone Star lawmakers just pushed Texas to the edge of crypto history. A bill mandating a state Bitcoin reserve now sits on the governor’s desk—one signature away from making it the third US state to bet taxpayer funds on digital gold.
Proponents call it a hedge against inflation. Critics see another political stunt in the crypto casino. Either way, Wall Street bankers are already drafting their ’blockchain revolution’ thinkpieces—between martini lunches, naturally.
The move follows similar plays by Wyoming and Florida. But with Texas’ oil-rich sovereign wealth fund? This could be the whale move that makes institutional FOMO look tame.
Bitcoin reserve
The proposal allows the state comptroller to acquire bitcoin using surplus General Revenue, subject to reporting rules that mirror those applied to gold bullion held in the Texas Bullion Depository.
Congressman Giovanni Capriglione, one of the bill’s primary sponsors, told colleagues during floor debate ahead of the tally:
He added that a Bitcoin reserve not only strengthens Texas’s fiscal sovereignty but also positions the state as a forward‑thinking region prepared for the evolution of global finance.
Once SB 21 reaches his desk, Governor Abbott has 20 days to sign or veto it. If the governor takes no action, the bill will become law without a signature on the first business day thereafter.
As a result, Texas WOULD become the third US state to direct public funds into Bitcoin as part of a strategic reserve framework, following Arizona and New Hampshire.
The US state would initiate Bitcoin purchases only after the comptroller publishes procurement guidelines in the Texas Register and secures a storage contract that satisfies the statute’s location requirement.
Legislative pathway
The Senate. Sen. Charles Schwertner, the bill author, argued that allocating a slice of Texas’s available cash to Bitcoin can protect purchasing power during monetary shocks.
Under the text advanced to the governor, the comptroller must disclose acquisition dates, unit counts, and aggregate cost basis each quarter.
The legislation does not impose a dollar‑denominated cap. Still, it requires holdings to be custodied with a qualified entity inside Texas or within a US jurisdiction that recognizes Bitcoin as property.
The bill also instructs the comptroller to study potential revenue streams tied to network participation, including Lightning‑enabled payment rails for state fees.
Those findings are due to the House Appropriations Committee by January 2026, setting up a review ahead of the 89th Legislature.
