Texas Governor Signs Bill for Strategic Bitcoin Reserve
On Monday, June 23, 2025, Law360 reported that Texas Governor Greg Abbott has enacted legislation to create a strategic bitcoin reserve intended to bolster the state’s financial stability. This move follows a similar initiative launched by the Trump administration earlier this year.
Governor Abbott signed Senate Bill 21 into law after the Texas House of Representatives approved the bill with a vote of 101-42 last month. The legislation outlines the establishment of an investment reserve specifically for cryptocurrencies, which will be overseen by the state’s comptroller of public accounts.
The text of the bill emphasizes the potential of bitcoin and other cryptocurrencies as assets that can enhance Texas’s financial resilience. It argues that these digital currencies can serve as safeguards against inflation and economic instability.
According to the legislation, the reserve will function as a dedicated fund outside the state’s treasury. Funding for this reserve will be sourced from legislative appropriations and interest accrued on the reserve’s assets. The bill grants the comptroller the authority to engage third-party managers for the reserve.
To ensure compliance, the bill specifies that any cryptocurrencies acquired using reserve funds must have an average market capitalization of at least $500 billion over the preceding two years. The comptroller is mandated to produce a report every two years detailing the reserve’s cryptocurrency holdings and their estimated monetary value.
In related developments, a similar bill in Arizona aimed at establishing a bitcoin reserve was revived by the state Senate, despite having been previously voted down by the House in May. This Arizona measure pertains to cryptocurrencies seized through forfeiture.
Additionally, last month, Arizona Governor Katie Hobbs approved a law that sets criteria for determining when digital assets may be classified as abandoned property, requiring them to be turned over to the state.
At the federal level, President Donald Trump signed an executive order in March to create a strategic bitcoin reserve. White House crypto czar David Sacks indicated that this fund would include bitcoin obtained through criminal or civil asset forfeiture, with Trump expressing intentions to stockpile various cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana, and Cardano.
Source: Law360
