Texas is set to become one of the first U.S. states to hold Bitcoin as part of its official reserves. Governor Greg Abbott recently expressed his plans to sign Senate Bill 21 into law. Doing this would authorize the creation of a strategic Bitcoin reserve for the state.
Several U.S. states have signaled support to create Bitcoin reserves. However, most efforts have remained at the interest stage. But Senate Bill 21 has gained serious traction in Texas.
The bill has already been recently passed by the Texas House of Representatives. If successful, this bill would prepare Texas for a digital financial future. With Bitcoin as a strategy, it would also provide diversity, as it could potentially serve as a hedge against inflation and central bank policy.
Texas Moves to Establish Strategic Bitcoin Reserve: A New Era in State Finance.
via @techstoryin https://t.co/e5utsSzDfI
— Greg Abbott (@GregAbbott_TX) May 23, 2025
The final decision now rests with Governor Abbott, a longtime supporter of crypto-friendly policies. Abbott recently reposted news of the development on social media, showing strong alignment with lawmakers pushing for Texas to become a “crypto capital.”
Other States Join the Bitcoin Reserve Trend
Texas is not alone in pushing for a Bitcoin state. Earlier this month, New Hampshire became the first U.S. state to sign a Bitcoin reserve bill into law officially. Soon after, Arizona followed suit with legislation allowing the state to take control of unclaimed cryptocurrency.
Across the U.S., nearly half of all state legislatures have introduced bills or begun exploring frameworks for holding Bitcoin. Some proposals aim for full reserve holdings, while others focus on legal pathways for managing unclaimed or forfeited digital assets.
Count me in as a crypto law proposal supporter.
It is increasingly being used for transactions and is beginning to go mainstream as an investment. (Fidelity, etc. trying to get Bitcoin ETF).
Texas should lead on this like we did with a gold depository. https://t.co/1z25mtgnmu
— Greg Abbott (@GregAbbott_TX) March 29, 2021
Likewise, President Donald Trump is also creating room for Bitcoin at a national level. He already signed an executive order in March proposing a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”
While Congress has yet to act, there are signs that Bitcoin could play a huge role in this administration. The President has maintained a close relationship with key figures in the crypto space, including a recent dinner.
All of these point to the changing view of crypto in the U.S. So, if Texas signs SB 21 into law, it could add pressure on other states. It could also accelerate things at a federal level.
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