Key Takeaways
- The legislation, which cleared the Senate earlier by a 25–5 margin, now heads to Governor Greg Abbott, who has long signaled support for digital assets and is expected to sign the bill into law.
- The bill empowers the state comptroller to establish and manage a reserve composed of Bitcoin or any other cryptocurrency that has maintained a market cap above $500 billion over the last year.
Texas is one step away from becoming the second U.S. state to create a Bitcoin reserve, after the state House passed Senate Bill 21 with a 101–42 vote. The legislation, which cleared the Senate earlier by a 25–5 margin, now heads to Governor Greg Abbott, who has long signaled support for digital assets and is expected to sign the bill into law.
The bill was authored by Republican Senator Charles Schwertner and empowers the state comptroller to establish and manage a reserve composed of Bitcoin or any other crypto that maintained a market cap above $500 billion over the last year. At present, only Bitcoin qualifies.
“This is a pivotal moment,” said Representative Giovanni Capriglione during debate on the House floor. “Texas is taking the lead in preparing for a digital future. We’re not just responding to trends—we’re defining them.”
Senate Bill 21 does not merely recognize the legality of Bitcoin; it codifies the asset’s role within the state’s strategic financial framework. Supporters of the legislation say it marks a departure from viewing crypto as a speculative investment and repositions it as a long-term store of value under state custody.
If signed into law, the measure would make Texas the second state to create an official Bitcoin reserve. Earlier this month, New Hampshire passed a similar measure, beating Texas to the milestone by mere weeks.
The move comes as other states take more cautious or oppositional stances. Arizona’s governor vetoed comparable legislation citing Bitcoin’s volatility. Florida’s proposals stalled in committee, while lawmakers in Montana also shelved their efforts. But Texas is pushing ahead, largely due to a political climate receptive to decentralized financial tools and long-term concerns over fiat instability.
The bill’s language explicitly ties crypto adoption to broader financial and technological changes, signaling a growing shift in how public institutions view digital assets. While federal regulation remains ambiguous, Texas is implementing its own framework for adoption.
The Texas Governor, on multiple occasions, have expressed interest in turning Texas into a crypto capital in recent years. Therefore, it is expected that the bill will be signed into law without major hiccups