Key Takeaways:
- Texas House passes SB 21 to create a state-managed Bitcoin reserve, pending Governor Abbott’s decision.
- The bill permits investments in cryptocurrencies with over $500B market cap—currently only Bitcoin qualifies.
- Texas would become the second U.S. state with a crypto reserve, following New Hampshire.
The Texas House of Representatives has approved SB 21, a bill that would establish a state-managed Bitcoin reserve, with a 101-42 vote.
The legislation now awaits action from Governor Greg Abbott, who can either sign it into law or issue a veto.
JUST IN: Texas Strategic Bitcoin Reserve bill SB21 officially PASSES and goes to Governors desk for final signature 🇺🇸 pic.twitter.com/8UMwxTHgg6
— Bitcoin Magazine (@BitcoinMagazine) May 21, 2025
Authored by Senator Charles Schwertner, SB 21 authorizes the state comptroller to invest in cryptocurrencies with a market cap over $500 billion—a threshold currently met only by Bitcoin.
Representative Giovanni Capriglione hailed the bill as a key step in positioning Texas as a digital asset leader.
The Texas Senate had already passed the bill earlier in March with a 25-5 vote.
If signed, Texas would become the second U.S. state, after New Hampshire, to establish such a reserve.
Similar proposals have faced pushback elsewhere—Arizona vetoed two bills, Florida paused efforts, and Montana rejected a proposal due to investment risk.
As of now, 47 similar bills have been introduced across 26 states, with 13 active at the federal level.
Texas, with a GDP of $2.7 trillion, ranks as the second-largest U.S. economy.
Governor Abbott has long supported cryptocurrency, accepting Bitcoin donations for his campaigns since 2014 and declaring Texas “the crypto capital” in 2024.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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