Texas Senate Passes Bitcoin Reserve Bill, Becoming Third U.S. State to Adopt Bitcoin Investment Strategy
Texas has passed Senate Bill 21, the 'Texas Strategic Bitcoin Reserve and Investment Act', establishing the Texas Strategic Bitcoin Reserve. The measure authorizes the State Treasurer to directly acquire, manage, stake, and liquidate Bitcoin and other approved cryptocurrencies under strict conditions: only assets with a 12-month average market cap of at least $500 billion, cold storage, and potential use of third-party custodians. Funds may come from appropriations, donations, and investment returns. Governor Greg Abbott, a Bitcoin supporter, is expected to sign the bill, making Texas the third state after Arizona and New Hampshire to formally add Bitcoin to state reserves. The move signals a growing state-level adoption of Bitcoin as a treasury asset, following the model paved by New Hampshire's HB 302.
