Texas House of Representatives has passed the third reading of Senate Bill 21 (SB 21), a bill aimed at establishing a state-managed Bitcoin reserve. The bill passed with a 101-42 vote and now heads to Governor Greg Abbott for approval or veto.

Authored by state Senator Charles Schwertner, SB 21 authorizes the Texas Comptroller to invest in cryptocurrencies with a market capitalization exceeding $500 billion over the past 12 months. Currently, Bitcoin is the only cryptocurrency that meets this criterion. The bill previously passed the Texas Senate in a 25-5 vote on March 6.

State Representative Giovanni Capriglione called the bill a “pivotal moment in securing Texas’s leadership in the digital age,” emphasizing Bitcoin’s potential as a modern yet traditionally grounded asset.

If signed into law, Texas will become the second U.S. state to establish a cryptocurrency reserve. New Hampshire was the first, following Governor Kelly Ayotte’s signing of House Bill 302 on May 6.

Texas, boasting a $2.7 trillion economy—the second largest in the U.S.—would rank as the world’s eighth-largest economy if it were an independent nation. Governor Abbott, a longtime supporter of cryptocurrency, is expected to sign SB 21. In a 2024 social media post, Abbott called Texas “the home of crypto mining” and envisioned it as “the crypto capital.” He has accepted Bitcoin donations to his political campaigns since 2014.

While Texas moves forward, other states remain cautious. Arizona Governor Katie Hobbs recently vetoed two crypto reserve bills, citing volatility. Similar legislation was withdrawn in Florida and rejected in Montana.

According to Bitcoin Laws, 47 Bitcoin reserve bills have been introduced in 26 states, with 13 active at the federal level. SB 21’s passage could cement Texas as a frontrunner in the evolving digital asset landscape, depending on Abbott’s final decision.

The post Texas House Passes Bill to Create Bitcoin Reserve appeared first on CryptoShrypto.

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Filed under: Bitcoin - @ May 24, 2025 5:22 pm