Texas Moves Closer to Creating Nation’s First State-Managed Bitcoin Reserve
As state-level interest in Bitcoin adoption continues to shift across the U.S., Texas is making headlines by advancing a bill that could establish the country’s first state-run Bitcoin reserve.
Senate Bill 21, also known as the Texas Strategic Bitcoin Reserve Act, cleared a key hurdle last week when it was approved by the Texas House Committee on Government Efficiency. With the state Senate already giving its approval, the bill now awaits a full House vote. If passed, Texas would become the first state to formally manage Bitcoin holdings through its comptroller’s office.
Pierre Rochard, CEO of The Bitcoin Bond Company, commented on the progress, saying, “The Texas House committee has approved SB 21. The next steps are a House floor vote and the governor’s signature. It looks likely that Texas will have a Strategic Bitcoin Reserve—the big open question is how much BTC will be acquired.”
Originally filed in January by Republican Senator Charles Schwertner, the bill was initially limited to Bitcoin. However, a revised version submitted in February opens the door to other digital assets as well, signaling a broader approach to crypto management at the state level.
Julian Fahrer, founder of Bitcoin Laws, noted that the final vote is expected before the Texas legislative session ends on June 2.
Fueling further interest is Bitcoin’s recent price surge. At press time, BTC was trading near $99,637—up 2.72% in the last 24 hours—as it inches closer to the $100,000 mark.
Other States Chart Different Courses on Bitcoin
While Texas moves forward, other states are taking varying approaches to digital asset policy.
On May 6, New Hampshire became the first state to formally enact a Bitcoin reserve law, drawing praise from Governor Kelly Ayotte for taking a leadership role in digital finance.
Meanwhile, North Carolina’s House passed the “Digital Assets Investment Act” (HB92) with strong bipartisan support, and Arizona Governor Katie Hobbs signed House Bill 2749 to create a Digital Asset Reserve Fund aimed at managing unclaimed digital holdings.
Not all states are forging ahead, however. Florida, once seen as a potential crypto leader, has backed away. On May 3, state lawmakers withdrew two major Bitcoin investment bills—HB 487 and SB 550—signaling a more cautious approach as debates continue over how digital assets should be used in government finance.
As states take diverging paths on Bitcoin strategy, Texas remains firmly committed to leading the charge—with a final decision now resting in the hands of its full House and governor.
Featured image from: coinpedia.com