Texas Senate Approves Landmark Bitcoin Reserve Bill—A Game-Changer for Digital Assets

The Texas Senate has passed a bill to establish a state-run bitcoin reserve—cementing the state’s crypto dominance and setting a precedent nationwide.

Texas Senate Passes Bill to Establish State Bitcoin Reserve

Lieutenant Governor Dan Patrick of Texas announced on March 6 that the Texas Senate had passed Senate Bill 21, establishing the Texas Bitcoin Reserve with bipartisan support. The legislation, introduced by Senator Charles Schwertner, creates a state-managed fund to hold bitcoin and other cryptocurrencies.

Patrick praised the initiative, stating: “President Trump has stated unequivocally that he intends to make the United States the cryptocurrency capital of the world. His visionary leadership on bitcoin and digital assets has paved the way for rapid American innovation, and Texas is leading the way.” He emphasized that the bill would strengthen Texas’ leadership in the digital economy. Affirming his commitment to making the Texas Bitcoin Reserve a priority, Patrick stated:

I promised to make a Texas Bitcoin Reserve a priority to solidify Texas’ leadership in the digital age. Today, the Texas Senate delivered on that promise by passing SB 21 with both Republican and Democrat votes to create the Texas Bitcoin Reserve.

He also underscored bitcoin’s role as a valuable asset, saying: “Some have called bitcoin ‘digital gold,’ and I believe its limited supply and decentralized nature make it a critical asset for Texas’ future.” The bill still requires House approval and the governor’s signature to become law.

The Texas Comptroller will oversee the reserve, which will hold cryptocurrencies with a market capitalization of at least $500 billion and will be eligible for state budget appropriations. Additionally, SB 21 establishes a Strategic Bitcoin Reserve Advisory Committee to provide guidance on managing the fund and mandates a biennial report on its holdings. Patrick described the initiative as a precedent for other states, stating:

Creating the Texas Bitcoin Reserve is a bold step for other states to follow. I stand with President Trump and hope to make Texas the epicenter of America’s digital future.

The U.S. has also taken steps to integrate bitcoin into its financial strategy. Through an executive order, President Donald Trump established a strategic bitcoin reserve, reinforcing the country’s commitment to digital assets. Additionally, the White House hosted its first-ever cryptocurrency summit, signaling increased federal engagement with the industry.