The SB 21 bill in Texas proposes the creation of a special Bitcoin fund managed by the state Comptroller. This move is part of broader initiatives to modernize public finance in the region.
Summary of SB 21 Bill
The SB 21 bill proposes establishing a Bitcoin-only fund managed by the Texas Comptroller. The fund would be held outside the main treasury, utilizing legislative appropriations, designated revenues, and investment returns to purchase, hold, and manage Bitcoin, provided the asset meets a **$500 billion** average market cap threshold over 24 months.
Governor's Deadlines and Actions
Governor Greg Abbott must decide whether to sign or veto SB 21 by **Sunday, June 22, 2025**. Texas's constitution dictates that inaction leads to automatic enactment.
Consequences and Future of the Initiative
If signed or enacted silently on June 22, Texas will become the third U.S. state to hold Bitcoin as a state asset. The Comptroller will soon establish the reserve, appoint an advisory committee, and begin acquisition planning. This initiative is expected to attract national attention, as governors in other states explore similar strategies amid rising crypto adoption.
The SB 21 bill represents a significant step forward in the evolution of public finance in Texas and may serve as a model for other states seeking to implement innovative financial strategies.
