Texas Endorses Creation of Bitcoin Reserve
The Texas House of Representatives has approved bill SB 21, which proposes the establishment of a strategic reserve for the leading cryptocurrency.
The bill received support from 105 legislators, with 23 opposing, and has been sent to the governor for signing.
?️BREAKING: ?? Texas has just passed the Texas Strategic #Bitcoin Reserve and Investment Act, allowing the state to invest in $BTC.
The bill now awaits Governor’s approval to become law. pic.twitter.com/ybIAAjOEgE
— Bitcoin.com News (@BTCTN) May 20, 2025
Before the vote, an amendment was added to the bill: besides digital gold, other assets will be included in the reserve only if they have a market capitalization of at least $500 billion over two years. Previously, the requirement was 12 months.
“Bitcoin is the only asset meeting these criteria. Its capitalization exceeds $2 trillion,” noted Bitcoin Laws.
?? JUST IN: TEXAS Strategic Bitcoin Reserve bill passes House second reading.
SB 21 passed by a vote of 105 — 23
The bill now progresses to a third reading a final vote (possibly tomorrow) pic.twitter.com/vcyUovCPb4
— Bitcoin Laws (@Bitcoin_Laws) May 20, 2025
Dennis Porter, CEO of Satoshi Action Fund, emphasized the importance of advancing the bill.
MAJOR BREAKING: TEXAS PASSES STRATEGIC BITCOIN RESERVE LEGISLATION IN CRUCIAL HOUSE VOTE.
LIKELY TO BE THE THIRD STATE TO SEND SBR LEGISLATION TO THE GOVERNOR’S DESK.
— Dennis Porter (@Dennis_Porter_) May 20, 2025
He noted that Texas will become the third U.S. state after New Hampshire and Arizona to pursue such an initiative.
The region’s economy is valued at $2.6 trillion, surpassing that of Canada and Australia. The adoption of the law could bolster institutional cryptocurrency adoption in the country.
In May, Florida halted consideration of two bills that would have allowed state funds to be invested in Bitcoin.
In states such as Oklahoma, Montana, Pennsylvania, North and South Dakota, and Wyoming, attempts to establish a strategic Bitcoin reserve have also failed.
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