Texas is taking a significant step in cryptocurrency investment with the introduction of S.B. 21, which establishes the Texas Strategic Bitcoin Reserve. Overseen by the Texas Comptroller, the reserve will hold BTC and other cryptocurrencies with a minimum market capitalization of $500 billion and may receive state budget allocations.
The bill also creates a Strategic Bitcoin Reserve Advisory Board to guide fund management, with biennial reporting requirements for transparency. S.B. 21, already passed by the Texas Senate, still awaits approval from the House and the governor’s signature to become law. If enacted, the law will take effect upon passage or by September 1, 2025.
