Texas Goes Full Hodl: Lawmakers Pass Bill to Hoard Bitcoin in State Reserves

Texas just took a chainsaw to traditional finance—lawmakers greenlit a bill that could make Bitcoin part of the state’s reserve assets. Governor Greg Abbott now faces a 20-day countdown to sign or veto the move. No pressure, but the crypto crowd’s watching.

The Lone Star Pivot

Forget gold bars—Texas might soon stack sats instead. The bill, if signed, would mark one of the most aggressive state-level endorsements of Bitcoin in U.S. history. Wall Street’s probably rolling its eyes, but hey, they still think 2% yields are ‘risk-free returns.’

Abbott’s Crypto Crossroads

The governor’s desk is where the rubber meets the road. Sign it, and Texas becomes a Bitcoin beacon; veto it, and the ‘pro-business’ GOP gets awkward questions. Either way, the clock’s ticking—20 days to decide if the state treasury dips into volatility or sticks with ‘safe’ bonds bleeding value to inflation.

One thing’s clear: when politicians flirt with crypto, it’s either a power move or a publicity stunt. Place your bets.

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.