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Texas Governor Signs Bill for State Bitcoin Reserve
Texas Governor Greg Abbott has signed Senate Bill 21 (SB21), officially authorizing the creation of the Texas Strategic Bitcoin Reserve.
The state-managed fund, details of which are laid out in the bill text, holds Bitcoin as part of Texas’s long-term financial assets.
Unlike the state’s general treasury system, the newly established reserve operates independently. This design aims to enhance the state’s financial resilience and potentially serve as a hedge against inflation.
Eligibility for inclusion in the fund is restricted: only assets from companies with a market capitalization exceeding $500 billion qualify. As this threshold stands, Bitcoin (BTC) is the sole asset meeting the criterion.
The Texas Comptroller of Public Accounts will administer the reserve, subject to guidance from an advisory committee composed of three crypto investment professionals.
Additional Funding Mechanisms
The Reserve is not limited to direct purchases by the state. It can expand through cryptocurrencies resulting from forks or airdrops, gains from investment activities, or even public crypto donations.
Regular transparency will be maintained, with a public report detailing the fund’s holdings and performance issued every two years.
Legal Separation Ensured
SB21 follows Abbott’s earlier signing of House Bill 4488. Crucially, this second bill ensures the Reserve cannot be absorbed into the state’s general revenue fund. This creates a legal insulation from general budget pressures.
National Context: Texas Leads in US-State Bitcoin Reserves
Texas becomes the third US state to approve legislation for a Bitcoin reserve law. While Arizona and New Hampshire have previously passed similar bills, Texas is the first state to move beyond legislative approval to authorize the actual use of public funds and establish a dedicated structure for storing Bitcoin.
Related: Michael Saylor raises Bitcoin forecast to $21M by 2046
Related: Bitcoin reserve, stablecoin regulations big 2025 market catalysts, says VC
Broader Trend: Corporate Adoption of Bitcoin
A rising number of publicly traded companies are adopting Bitcoin as a treasury asset, following an approach popularized by Michael Saylor’s MicroStrategy.
Recent examples include Nakamoto Holdings, the BTC-focused company founded by David Bailey, a former adviser to President Donald Trump. Nakamoto secured $51.5 million through a PIPE deal to acquire more Bitcoin.
Paris-listed technology firm The Blockchain Group AG also recently expanded its Bitcoin holdings, purchasing 182 BTC for approximately $19.6 million. This brings their total Bitcoin reserves to 1,653 BTC.
According to data from BitcoinTreasuries.NET, numerous organizations have added Bitcoin to their treasuries over the past month alone, indicating continued institutional interest.
Magazine: History suggests Bitcoin taps $330K, crypto ETF odds hit 90%: Hodler’s Digest, June 15 – 21
