Texas Senate Passes Bill to Create State Bitcoin Reserve
1min read The Texas Senate has passed SB 21, a bill aimed at creating a strategic Bitcoin reserve for the state, by a vote of 25-5. The bill will now advance to the Texas House for further consideration. This legislation is part of a broader effort to position Texas as a leader in Bitcoin adoption, with the goal of establishing a reserve of BTC that proponents argue will serve as a hedge against economic instability and inflation.
Texas Lieutenant Governor Dan Patrick identified SB 21 as a priority bill for the 2025 legislative session in January. The bill has garnered significant support, particularly during a February 18 hearing held by Texas’ Senate Committee on Business and Commerce. The hearing attracted numerous Bitcoin advocates, including Pierre Rochard of riot platforms, North America’s largest Bitcoin mining company. Rochard emphasized the long-term value of Bitcoin, stating that now is the perfect time to make a strategic investment in the cryptocurrency.
Senate Committee on Business and Commerce Chairman Charles Schwertner also highlighted Bitcoin’s growing role in financial markets, noting that it has become a recognized asset. This recognition aligns with the broader national interest in Bitcoin reserves, as evidenced by recent announcements from the federal government. Just days ago, President Donald Trump announced that the United States would be creating a federal Bitcoin reserve, with further details expected to be provided during the upcoming Digital Assets Summit at the White House.
As SB 21 moves to the Texas House, all eyes are on whether Texas will successfully establish itself as a leader in Bitcoin adoption at the state level. If passed, Texas could become the first U.S. state to officially hold Bitcoin as part of its financial strategy, setting a precedent for other states to follow. The bill’s passage in the Senate comes amid growing national interest in Bitcoin reserves, reflecting a broader trend towards recognizing the cryptocurrency as a valuable asset in financial markets.
