The Texas House of Representatives has passed a key vote in support of creating a state-managed Bitcoin reserve, moving Senate Bill 21 one step closer to becoming law. The bill passed its second reading with a 105-23 vote, gaining strong bipartisan support as it advanced toward final approval.
Titled the Texas Strategic Bitcoin Reserve and Investment Act, the legislation had already cleared the Senate and now faces a third House vote. If passed, it would formalize Texas’s entry into the growing list of U.S. states actively exploring crypto adoption in public finance.
Lawmakers approved a key amendment from Representative Linda Garcia (D-TX), which tightens eligibility standards for crypto assets considered for inclusion in the reserve. Under the amendment, non-Bitcoin assets must maintain a $500 billion market cap for 24 consecutive months—double the original 12-month proposal.
“This is a forward-thinking measure,” said Representative Giovanni Capriglione (R-TX), who sponsored the bill.
“It helps us recognize digital assets not as a trend but as a strategic opportunity to enhance Texas’s fiscal resilience.”
The bill also establishes a crypto advisory committee and requires routine reporting by the state comptroller. If enacted, it could serve as a blueprint for other states interested in formalizing Bitcoin as part of their fiscal policy.
Texas Plans Bitcoin Reserve as Inflation Hedge
Senate Bill 21 would authorize the Texas comptroller to manage a special cryptocurrency fund, held outside the state treasury, designed to hedge against inflation and economic volatility.
The fund’s oversight includes biennial reports to the Legislature detailing asset value, composition, and any transactions. The framework also allows for the future inclusion of cryptocurrencies other than Bitcoin, provided they meet rigorous market cap and time-tested performance benchmarks.
The proposed advisory committee will be composed of experts in digital assets and traditional finance to help guide the comptroller’s decisions on risk, asset allocation, and long-term strategy.
Final House Vote and Senate Reconciliation Await
Though the bill cleared a crucial House reading, it still requires a third and final vote. Because the House adopted amendments—including the stricter market cap requirement—lawmakers will need to reconcile differences with the Senate version before sending it to the governor’s desk.
If signed into law, Texas would join New Hampshire, which earlier this month authorized the nation’s first state-run Bitcoin reserve. Arizona proposed a similar bill but ultimately vetoed it, passing only a separate measure related to unclaimed digital assets.
Texas, already a hub for crypto mining due to its energy infrastructure and deregulation, could now become a leader in government-backed digital asset adoption.
Quick Facts
- Texas House approved Senate Bill 21 to create a state-managed Bitcoin reserve with a 105–23 vote.
- The bill allows the comptroller to hold Bitcoin and potentially other digital assets outside the treasury.
- A key amendment requires non-Bitcoin assets to maintain a $500B market cap for 24 months.
- If enacted, Texas would follow New Hampshire in establishing a formal Bitcoin reserve policy.
