Catenaa, Saturday, May 31, 2025-Texas is poised to become the third US state to establish a strategic Bitcoin reserve after lawmakers passed a bill Wednesday enabling cryptocurrency investment using state funds.
Senate Bill 21, which cleared both legislative chambers, allows Texas to allocate public money toward building a reserve of Bitcoin. Lee Bratcher, president of the Texas Blockchain Council and an early supporter of the proposal, said he expects Gov. Greg Abbott to sign the bill into law within the next two weeks.
If signed, Texas would follow Arizona and New Hampshire, which have already created similar state-run Bitcoin reserves. The move also aligns with a broader national trend after President Donald Trump authorized a federal Bitcoin reserve through an executive order in March.
Bratcher estimates Texas will initially invest tens of millions of dollars in Bitcoin — a modest sum relative to the size of the state’s $2 trillion economy.
He said the comptroller’s office will oversee purchases using standard investment protocols.
The idea of a Texas Bitcoin reserve has circulated since 2022, with Bratcher and allied lawmakers advocating for the Lone Star State to build cryptocurrency holdings.
Texas already serves as a hub for Bitcoin mining and other blockchain ventures.
Bitcoin surged to an all-time high of about $109,400 on Wednesday, underscoring heightened institutional interest and growing state-level adoption.
