On March 6, 2025, the Texas Senate approved Senate Bill 21 (SB-21) with a 25-5 vote, paving the way for the establishment of a state-managed Bitcoin strategic reserve.
Introduced by State Senator Charles Schwertner, the bill aims to bolster Texas’s financial stability by investing in Bitcoin, a scarce digital asset.
Senator Schwertner emphasized that incorporating Bitcoin into the state’s reserves could serve as a hedge against inflation and economic volatility, similar to how gold has been used traditionally. He noted that Bitcoin’s decentralized nature and limited supply make it an attractive asset for diversification.
On February 28, 2025, the Texas Bitcoin Reserve Bill (SB 21) successfully passed the Business and Commerce Committee and then proceeded to the Texas Senate for further review.
The bill proposes the creation of the Texas Strategic Bitcoin Reserve, a special fund outside the state treasury. This structure is designed to provide flexibility in managing and investing in Bitcoin and other high-market-cap cryptocurrencies.
The reserve would be overseen by the Texas Comptroller of Public Accounts, who would have the authority to acquire, manage, and trade these digital assets.
Also Read: Howard Lutnick confirms Trump to announce Bitcoin Reserve
