- Texas Governor supports Bitcoin reserve establishment.
- Bill passed by significant majority.
- Aligns with national trend towards digital asset reserves.
Governor Greg Abbott of Texas has expressed support for Senate Bill 21, which proposes a state-run strategic Bitcoin reserve, following its approval by Texas lawmakers in May 2025.
Texas Legislature Approves Bitcoin Reserve
The Texas legislature passed Senate Bill 21 to create a state-run Bitcoin reserve. Governor Greg Abbott, a known supporter, has endorsed the bill. This decision follows recent House and Senate approvals of the legislation. Governor Abbott has been vocal about his support, stating:
“I support efforts by Texas lawmakers to create a Bitcoin reserve that can position our state as a leader in cryptocurrency adoption.”
Bill prioritization reflects the state’s commitment to crypto leadership. Key backers include Lieutenant Governor Dan Patrick who champions it as a legislative priority. The reserve will be funded by various means and managed by the Texas Comptroller of Public Accounts.
Impact on Texas’s Crypto Status
If enacted, the reserve could strengthen Texas’s status as a crypto innovation hub.
The bill’s approval aligns Texas with New Hampshire, which was the first to create a similar reserve. Other states and the federal government show rising interest in crypto assets.
Economically, the reserve supports potential investment growth in Bitcoin. Eligibility criteria limit holdings mainly to Bitcoin under current market conditions. The move assures financial stability and strategic resource allocation for Texas.
This initiative bolsters Texas’s standing in the cryptocurrency space, offering financial, regulatory, and technological growth. As blockchain adoption increases, innovation and competitiveness may follow in the digital economy.
