Texas Strategic Bitcoin Reserve

The Texas Strategic Bitcoin Reserve is a strategic reserve fund that enables the State of Texas to purchase cryptocurrency.

History

The bill was originally introduced as SB 21 by Senator Charles Schwertner as a way to enable the State of Texas to purchase digital cryptocurrency as a strategic reserve.[1] Any cryptocurrencies purchased with money in the reserve must have an average 24-month market capitalization of at least $500 billion.[2] The bill was co-written by Representative Giovanni Capriglione.[3] It was reported to mirror the strategic bitcoin reserve of the United States federal government created through executive order by Donald Trump.[4]

It passed the Texas Senate in March 2025 by a vote of 25 to 5. It passed the Texas House of Representatives in May 2025 by a vote of 101 to 42.[5]

The bill was signed into law by Governor Greg Abbott on June 22, 2025.[6] Following Arizona and New Hampshire, Texas is the third state to enact legislation creating a bitcoin reserve on the state level.[7]

On November 20, 2025, Texas bought $5 million worth of Bitcoin at a price of approximately $87,000 per BTC. This initial purchase was done through the BlackRock iShares Bitcoin Trust ETF (Nasdaq: IBIT).[8]

See also

References

  1. ^ Rouner, Jef (17 January 2025). "Bill to Create Texas Bitcoin Reserve Filed Despite Risks". Reform Austin. Retrieved 23 June 2025.
  2. ^ Texas Strategic Bitcoin Reserve and Investment Act. 2025. Sec. 403.704. Archived from the original on 2025-08-05.
  3. ^ Malcolm, Timothy (21 May 2025). "Texas House passes Bitcoin reserve, paving way for new setup". Houston Chronicle. Retrieved 23 June 2025.
  4. ^ Dale, Brady (22 May 2025). "Strategic bitcoin reserve bill passes in Texas". Axios. Retrieved 23 June 2025.
  5. ^ "Texas House Approves SB 21, Paving Way for State-Run Bitcoin Reserve". Texas Policy Research. 22 May 2025. Retrieved 23 June 2025.
  6. ^ Williams, Zach (22 June 2025). "Texas Gov. Abbott Signs Bill to Create State Bitcoin Reserve". Bloomberg Government. Retrieved 23 June 2025.
  7. ^ Tsiaperas, Tasha; Dale, Brady (28 May 2025). "Strategic bitcoin reserve bill clears hurdle in Texas Legislature". Axios. Retrieved 23 June 2025.
  8. ^ Zimmerman, Micah (2025-11-25). "Texas Becomes First U.S. State to Buy $5M of BlackRock's Spot Bitcoin ETF". Bitcoin Magazine. Archived from the original on 2025-11-26. Retrieved 2025-11-25.
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