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A major crypto milestone just cleared another hurdle in Texas. Senate Bill 21 (SB 21)—which proposes creating a Texas Strategic Bitcoin Reserve—has passed the House Committee on Delivery of Government Efficiency with a 9-4 vote, split along party lines.
The bill was previously approved by the Texas Senate in March and now moves to a full floor vote. If passed, it heads to Governor Greg Abbott, a long-time crypto supporter who accepted Bitcoin donations back in 2014 and has repeatedly expressed his vision to make Texas the “crypto capital” of the U.S.
Texas Bill Details and Scope
Filed by Republican Senator Charles Schwertner in January, SB 21 initially focused solely on Bitcoin. However, it was later revised to include other digital assets with a market cap of $500 billion or more—a threshold that currently includes only Bitcoin. The reserve would be overseen by Texas Comptroller Glenn Hegar.
Arizona and New Hampshire Lead the Way
While Texas inches forward, Arizona has already made its move. Governor Katie Hobbs signed legislation establishing a Bitcoin and Digital Asset Reserve Fund, independent of taxpayer money. Arizona can now stake unclaimed crypto, earn staking rewards, and receive airdrops to grow the fund.
Just one day earlier, New Hampshire Governor Kelly Ayotte signed House Bill 302, allowing the state treasury to invest in top cryptocurrencies with a $500 billion+ market cap—currently meaning Bitcoin-only.
Mixed Reactions From Other States
Momentum is growing, but not all states are on board. Florida suddenly pulled two Bitcoin reserve bills from its legislative schedule on May 3—the same day it passed over 230 unrelated measures, including bans on school smartphone use and fluoride in water.
Meanwhile, Sweden is also exploring the idea of a national Bitcoin reserve, with a Swedish MP proposing the initiative to the country’s finance minister.
With the Texas legislative session ending on June 2, the countdown is on. All eyes are now on whether SB 21 will make it through the final vote and officially place Bitcoin in Texas’ treasury strategy.
FAQs
Arizona and New Hampshire have passed laws allowing state investment in Bitcoin and top digital assets.
