- Texas Senate passes bill to create official Bitcoin reserve fund.
- Governor Abbott’s signature needed to finalize Bitcoin reserve law.
- The fund will hold Bitcoin and stable cryptocurrencies above $500 billion.
The Texas Senate has passed Senate Bill 21 with a strong vote of 24 to 7. This is an important step toward creating the Texas Strategic Bitcoin Reserve, a special fund that will hold Bitcoin and possibly other digital currencies. From here, Governor Greg Abbott decides if he wants to sign the bill and make it law.
Bitcoin Reserve Bill Heads to Governor for Signature
On March 25, 2025, the Senate introduced this bill as the first step in the process. The next step was for the Senate bill to be considered by the Texas House of Representatives. The text was changed in some parts during the process. A final version of the bill was settled by the conference committee after approval by both chambers. To become a law, bills must be signed by the governor which comes after that stage.
If the process goes ahead, the reserve will mainly invest in Bitcoin. Other cryptocurrencies might be added, only if their market value is more than 500 billion dollars. With this rule, the fund is safer as only dependable and stable digital assets are accepted. As a result, the level of risk for taxpayer funds goes down at the same time as creating confidence in digital finance’s future.
If this happens, Texas would be the next state after Wyoming and Louisiana to build a government-guided Bitcoin reserve. Also, New Hampshire and Arizona are included. When Texas was developing its system, lawmakers looked to New Hampshire’s experience. They took notice of the considerations New Hampshire followed when picking digital assets which guided Texas in organizing their approach.
Senate Bill 21 Marks Major Move for Texas Economy
Many people who back the bill think it is a wise move. They think it will help Texas become a major player in fintech and attract people who are into cryptocurrencies. According to them, adding Bitcoin to state reserves will allow Texas to get ready for the future and support its economy.
This action may also encourage other states to take similar steps. Because more governments are becoming interested in digital currency, Texas might be recognized as an example. A number of experts expect states with strong tech or financial industries to soon launch their own reserves, inspired by this example.
Still, there are some difficulties to take into account. Many warn that cryptocurrencies exhibit a lot of volatility. They consider that spending public money on digital assets could expose these assets to risks. Some people challenge if using public money for searching should be a top priority for the government. Even so, people who support the law say it contains systems to keep things safe and managed well.
In the long run, passing Senate Bill 21 is a significant step for Texas. It proves that the government values innovation and wants to take part in the growth of digital finance. The community is now watching to see what Governor Abbott does. Once he signs the bill, Texas could lead the way in having Bitcoin as part of its financial planning.
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