Texas House Greenlights Bitcoin Reserve, Heading to Governor’s Desk

Texas is set to put Bitcoin (BTC) into its balance sheet thanks to the approval of SB 21 by the Texas House of Representatives. 

This legislation will allow the state to build and manage its own Bitcoin reserve. The bill, which has been approved by the Senate, now awaits Governor Greg Abbott’s signature. Before reaching Abbott’s desk, the bill must return to the Senate for concurrence on the reinstated donation clause. 

Texas Moves Forward With Bitcoin Reserve Bill

The legislation would create a formal investment arm for Texas to acquire and hold cryptocurrencies. It gives the state comptroller authority to hold cryptocurrencies with a market cap above US$500B (AU$776B) over a 12-month period, which of course, is a requirement that only Bitcoin meets. 

If enacted, Texas would become the third US state to formally back a crypto reserve policy, following New Hampshire and Arizona earlier this month.

State Representative Giovanni Capriglione, who introduced the bill to the House floor, framed the move as a long-term bet on digital infrastructure. The legislation would embed Bitcoin directly into the state’s financial framework, treating it as a strategic asset rather than a speculative investment.

But while the bill sailed through with bipartisan support, lawmakers quietly reinserted a controversial clause allowing private entities to donate crypto directly to the state’s reserve, an element previously removed in committee after concerns about regulatory capture and market distortion.

Governor Abbott has previously praised the state’s role in crypto mining and signaled openness to crypto policy, even stating that Texas should become the crypto capital.