In what is a landmark development for the cryptocurrency industry, the Texas House of Representatives has officially passed a strategic Bitcoin Reserve bill. Indeed, SB 21 will see the United States officially create a BTC reserve if it is signed into law by the state’s governor, Greg Abbott
The bill had passed Wednesday by a vote of 101-42 as it took the next step to becoming state law. Specifically, it will reach Abbott’s desk, to which he will either grant his signature or veto the legislation. If it passes, Texas will join Arizona and New Hampshire as the only states with laws enacted allowing the formation of a strategic Bitcoin Reserve.
JUST IN: 🇺🇸 Texas House officially passes Strategic Bitcoin Reserve Bill SB21.
— Watcher.Guru (@WatcherGuru) May 21, 2025
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Strategic Bitcoin Reserve Bill Passes in Texas House as it Heads to Governor’s Desk
As the United States approaches its Memorial Day, it has already been an incredible start to Q2 for Bitcoin and the crypto sector. Indeed, BTC reached a new all-time high of $109,424 on Wednesday. Moreover, it has continued to thrive in becoming a key mainstream asset in the country.
Those efforts took yet another major step forward at the midpoint of the week. Specifically, the Texas House of Representatives has officially passed a strategic Bitcoin reserve bill in a landmark voter turnout. The legislation is on the governor’s desk after a 101-42 vote in favor.
Source: CNBC
Also Read: JPMorgan to Allow Clients to Buy Bitcoin, CEO Confirms
The bill was authored by Texas State Senator Charles Schwertner. Moreover, it will officially establish a Bitcoin reserve in the state that would be managed by its comptroller. If signed into law by the state’s governor, it will authorize investment in any cryptocurrency with a market cap exceeding the $500 billion mark over the last 12 months.
Those requirements mean, for the time being, Bitcoin is the only cryptocurrency Texas can invest in. The move is yet another pro-crypto shift for the US. They follow the decision of US President Donald Trump to establish a similar reserve on the federal level. Additionally, states are expected to follow suit with the landmark decision.
