Texas Governor Greg Abbott declared support for Senate Bill 21, tweeting an article that highlighted its passage through the state legislature.
The bill authorizes the comptroller to create a Bitcoin reserve, potentially making Texas the second U.S. state—after New Hampshire—to codify such a policy.
Abbott once branded himself a “crypto law proposal supporter,” and industry advocates say his signature could cement Texas’s drive to become “the crypto capital.”
Legislative Journey
SB 21 survived a 25-5 Senate vote on March 6 and cleared the House committee on May 7.
Its authors modeled the measure on President Trump’s March executive order establishing a federal “Strategic Bitcoin Reserve.”
Some lawmakers tried to cap state purchases at $250 million, but the final text leaves allocations to the comptroller’s discretion within budget limits.
National Trend
Arizona recently enacted a law letting the state claim unclaimed crypto, and roughly half of U.S. states are weighing Bitcoin-reserve concepts.
Wyoming Senator Cynthia Lummis is pushing the federal BITCOIN Act, aiming to formalize Treasury custody of seized coins.
What Comes Next
If signed, Texas agencies would report digital-asset holdings within 30 days, and the comptroller could gradually accumulate BTC.
Supporters argue a reserve would diversify state assets, while critics warn of volatility and legal uncertainties.