05-27-2025 
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Lawmakers from the Texas House of Representatives have voted overwhelmingly to pass Senate Bill 21 (SB 21), which allows for establishing a Bitcoin reserve managed by the state comptroller and investing in select digital currencies.
The legislation would allow the comptroller to invest in any digital asset with a market cap above $500 billion over the previous 12-month period. Currently, the only asset fitting this description is Bitcoin.
Authored by Republican Senator Charles Schwertner of Georgetown in February 2025, SB 21 was passed by the Texas Senate in a March 6 vote of 25-5, after which it progressed to a House vote. The bill eventually passed the House on its third reading in a 101-42 vote and will now go to Texas Governor Greg Abbott to either sign into law or veto.
However, the latter scenario seems unlikely as the governor has previously been vocal in supporting the digital asset space, to the point of wanting to make Texas a digital asset hub. After hosting the Texas Blockchain conference in October 2021, Abbot posted on X that the state “will be #1 for blockchain & cryptocurrency.”
If the governor does rubber stamp SB 21, Texas will become the third U.S. state to pass Bitcoin reserve legislation, following in the footsteps of New Hampshire and Arizona.
According to digital asset legislation tracking site Bitcoin Laws, 47 strategic Bitcoin reserve bills have been introduced in 26 states, with 13 active bills at the federal level as well.
This nationwide move towards Bitcoin reserves is very much in keeping with Government policy since the re-election of U.S. President Donald Trump in November 2024.After taking office in January, Trump began a process of transforming the U.S. into a more hospitable environment for digital assets, including reversing so-called crypto-debanking measures, installing crypto-advocates in key regulatory positions—while hamstringing other regulators—and making a strategic Bitcoin reserve.
On March 7, Trump officially announced that the U.S. would be creating a strategic Bitcoin reserve through an executive order titled “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.”
The order introduced the idea of a strategic reserve exclusively for BTC—addressing the concerns of some industry supporters when Trump first posited a digital asset reserve on March 2 that would include XRP, SOL, and ADA—as well as introducing the concept of a “Digital Asset Stockpile,” to be comprised of various cryptocurrencies.
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