On June 21, 2025, Texas Governor Greg Abbott signed a bill to create a strategic Bitcoin reserve, becoming the third state in the U.S. to do so.
Signing the Law and Its Essence
Governor Abbott received SB 21 on June 1, 2025, and had until June 22 to sign or veto it. The signed bill establishes a fund to be managed by the Texas Comptroller of Public Accounts, kept outside the state treasury.
Conditions for Establishing the Reserve
Under SB 21, the fund can only invest in cryptocurrencies that have had an average market cap of at least $500 billion over the last 12 months. This requirement aims to ensure the fund focuses on stable investments.
Supporting Laws and Their Significance
Previously, House Bill 4488 was passed to protect reserve funds and provide a legal basis for holding digital assets under state law. SB 21 is the law that formally enables the creation of this reserve.
With the establishment of a strategic Bitcoin reserve, Texas steps into a new era of digital assets, providing legislative conditions for their storage and utilization.
