Texas is poised to become the third US state to create a Bitcoin Strategic Reserve, thanks to the imminent passage of SB-21.
The cryptocurrency revolution in the United States is advancing by leaps and bounds, and Texas is at the epicenter of this change. The state, known for its pioneering spirit and interest in innovation, is about to take a historic leap forward with the imminent approval of the SB-21 law.
This legislative initiative, which proposes the creation of a Bitcoin Strategic Reserve under state administration, would position Texas as a national leader in the integration of digital assets into public finance, following the example of other states like New Hampshire, which are seeking to transform the way state governments protect and diversify their assets in the face of inflation and global volatility.
BUY BITCOIN EASILY AND FAST AT BIT2MEIn Texas, SB-21 project underlines the interest in Bitcoin as strategic financial toolSponsored by Senator Charles Schwertner and supported by Governor Greg Abbott, the bill is in an advanced legislative phase, with overwhelming approval in the Senate and significant support in key House committees.
If it becomes law before 2 JuneTexas would become the third state in the country to maintain Bitcoin as a reserve asset, setting a new precedent for other jurisdictions interested in cryptocurrency financial innovation.
Texas and SB-21: A Historic Step Toward a Bitcoin Strategic Reserve
SB-21 represents one of Texas' boldest moves toward financial innovation. Introduced in January of this year by Senator Schwertner, the law seeks to establish a Bitcoin Strategic Reserve under the supervision of the state comptrollerIts goal is clear: to allow the state to own and manage Bitcoin and, potentially, other cryptoassets exceeding a market capitalization of $500.000 billion, although currently only Bitcoin meets this requirement.
This bill was initially passed in the Senate on March 6 with 25 votes in favor and 5 against. More recently, received the green light from the House Government Efficiency Delivery Committee, which is why it is preparing for a final vote before the conclusion of the legislative session.
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The state website indicates that SB-21 was approved by the Government Efficiency Delivery Committee and awaiting a full vote. If this vote is successful, the regulation will then head to Governor Abbott's office for signature and enactment.
Essentially, among its key provisions, SB-21 limits Bitcoin investment to a maximum of 1% of the state's unencumbered general balance per biennial cycle, thereby ensuring prudent and responsible management of public resources. Furthermore, contemplates the possibility of receiving donations in Bitcoin by citizens and businesses, promoting community participation and strengthening the local crypto ecosystem. This openness to innovation aligns with the vision of Governor Greg Abbott, who has championed the integration of cryptocurrencies into the Texas economy.
TRADE WITHOUT COMPLICATIONS – BIT2ME LIFEStates compete in a race for Bitcoin reserves
The advancement of Texas' SB-21 law is not happening in a vacuum. The United States is experiencing a genuine race to create strategic Bitcoin reserves, driven by President Donald Trump's March executive order urging exploration of the feasibility of federal digital asset storage. In this context, New Hampshire became the first state to approve state investment in Bitcoin., allowing up to 5% of certain funds to be allocated to high-market-cap digital assets, a move hailed by Governor Kelly Ayotte as a milestone for financial innovation.
Arizona, for its part, implemented a different modelHB-2749 created a dedicated fund for Bitcoin and other digital assets, financed exclusively with unclaimed property, thus avoiding the use of public funds. Additionally, this fund can engage in staking with abandoned crypto assets, generating additional revenue for the state.
Now, with SB-21, Texas is opting for a balanced strategy that seeks to combine innovation, fiscal prudence, and transparency, following the example of auditable transparency offered by the Bitcoin protocol.
As in other jurisdictions, if the creation of a Bitcoin Strategic Reserve is approved in Texas, it would have profound implications for the state's economy and politics, diversifying the state's reserves and providing greater opportunities to protect the value of public funds.
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For experts, the enactment of SB-21 could boost market confidence, legitimizing Bitcoin as a financial asset and opening the door to new applications and innovative use cases.
Therefore, Texas is poised to witness a decisive chapter in the history of crypto adoption in the US public sector. The imminent passage of this bill will cement its position as a leader in financial innovation, positioning Bitcoin as a strategic tool for economic diversification and protection, and ushering in a new era in the relationship between governments and digital assets.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
