Texas’ Strategic Bitcoin Reserve legislation bill SB 21 officially passed today in the state’s senate committee. The senate was the last step for the Bitcoin bill to become official in the state of Texas.
JUST IN: 🇺🇸 Bitcoin Reserve Bill SB21 passes in the Texas Senate. pic.twitter.com/KStfFXUvQV
— Watcher.Guru (@WatcherGuru) March 6, 2025
SB-21 outlines a comprehensive framework for the establishment and administration of the Texas Strategic Bitcoin Reserve. The reserve is to be constituted as a special fund outside the state treasury, granting it greater autonomy and flexibility in investment strategies. The fund’s composition includes legislative appropriations, dedicated revenues, purchased cryptocurrencies, investment earnings, and donations. Notably, any cryptocurrency acquired must have an average market capitalization of at least $500 billion over the preceding 12 months, ensuring the reserve’s focus on established digital assets.
The Texas Strategic Bitcoin Reserve passed in a 25-5 vote Thursday. Texas State Senator Charles Schwertner supports the bill, saying that it would help the US state shore up its balance sheet with a valuable, scarce asset.
Also Read: Bitcoin Reserve Strategy to Be Announced by US President Trump
Texas is certainly not alone, as a slew of US states have sought to establish their own Bitcoin reserves. In January, Oklahoma introduced legislation to create a Bitcoin reserve. Additionally, Massachusetts followed suit, implementing similar plans. President Trump has yet to begin a BTC reserve formally, but his crypto team is in talks of developing it. Furthermore, Trump announced the launch of a crypto stockpile that will constitute a host of digital assets.
The approval of the Texas Strategic Bitcoin Reserve comes as BTC is picking up momentum this week. In the last seven days, the leading cryptocurrency is up 4%, itching to return to $90,000.