Texas lawmakers approved legislation to establish a state-level strategic Bitcoin (BTC) reserve on May 21 after a 101‑42 House vote, according to the House livestream.
According to Bitcoin Laws, the SB 21 bill now needs to be approved again in the Senate with the House’s added amendments. The Senate approved the previous iteration of the bill with a 25-5 vote in favor on March 5.
Following the Senate vote, the legislation will be sent to Governor Greg Abbott’s desk for his final approval before it can become law.
Once SB 21 reaches his desk, the Governor will have 20 days to sign or veto it. If the governor takes no action, the bill will become law without a signature on the first business day thereafter.
Bitcoin reserve
The proposal allows the state comptroller to acquire Bitcoin using surplus General Revenue, subject to reporting rules that mirror those applied to gold bullion held in the Texas Bullion Depository.
Congressman Giovanni Capriglione, one of the bill’s primary sponsors, told colleagues during floor debate ahead of the tally:
“Today is a pivotal moment in securing Texas’ leadership in the digital age with the passage of our strategic Bitcoin reserve. Now we embrace a modern asset with traditional properties, but future promise.”
He added that a Bitcoin reserve not only strengthens Texas’s fiscal sovereignty but also positions the state as a forward‑thinking region prepared for the evolution of global finance.
If approved by the Governor, Texas will become the third US state to direct public funds into Bitcoin as part of a strategic reserve framework, following Arizona and New Hampshire.
The US state would initiate Bitcoin purchases only after the comptroller publishes procurement guidelines in the Texas Register and secures a storage contract that satisfies the statute’s location requirement.
Legislative pathway
The Senate cleared SB 21 on March 6. Sen. Charles Schwertner, the bill author, argued that allocating a slice of Texas’s available cash to Bitcoin can protect purchasing power during monetary shocks.
Under the text advanced to the governor, the comptroller must disclose acquisition dates, unit counts, and aggregate cost basis each quarter.
The legislation does not impose a dollar‑denominated cap. Still, it requires holdings to be custodied with a qualified entity inside Texas or within a US jurisdiction that recognizes Bitcoin as property.
The bill also instructs the comptroller to study potential revenue streams tied to network participation, including Lightning‑enabled payment rails for state fees.
Those findings are due to the House Appropriations Committee by January 2026, setting up a review ahead of the 89th Legislature.
Editor’s Note: Article updated at 21:27 GMT to clarify that the Senate will have to vote again following the House amendments to the bill.
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