Key dealers
- Texas Legislature reviews Senate Bill 21 to set up a state-managed Bitcoin reserve.
- The bill is part of Texas broader crypt-friendly politics, which potentially makes it the third US state to establish a bitcoin reserve.
The Texas representative will hold a key read by Senate Bill 21 (SB 21) and move the state a step closer to creating a government-managed Bitcoin reserve, according to an update of the bill Official page.
Dennis Porter, co-founder and CEO of Satoshi Action Fund, said in a statement on Saturday that the second treatment is “the necessary step” before a final vote, given that the Texas legislator is postponed in less than two weeks and leaves a narrow window to get the bill over the finish line.
Strategic Bitcoin Reserve in Texas is on the way!
The 2nd reading comes May 20, which is the necessary step before it goes for the final house’s floor vote.
Time ends. The legislature will cancel two weeks later! pic.twitter.com/mn0lhakyll
– Dennis Porter (@dennis_porter_) May 17, 2025
If SB 21 cleans this reading in the house, it is expected to go quickly to a third reading and final floor vote. If approved, the bill will go to the governor’s desk for signature.
The proposed legislation has already cleared two major obstacles and passed the Texas senate in a vote of 25–5 on March 6 and advanced through the House Committee in a vote 9–4 on May 7, without changes.
SB 21In the title Texas Strategic Bitcoin Reserve and Investment Act, is authored by Senator Charles Schwertner and sponsored in the Chamber of Representative Giovanni Capriglione. It would authorize the state to buy, hold and manage Bitcoin as part of a government -driven reserve.
The initiative is designed to treat bitcoin as a strategic financial asset that can serve as a hedge against inflation and economic volatility, while improving the state’s long-term economic resilience.
The reserve would be financed through a mix of legislative grants, investment revenue and voluntary donations from the Texas inhabitants. It would also include all Bitcoin or other qualified crypto assets obtained via forks or drops.
However, the bill sets strict criteria for eligibility: all digital assets acquired for the reserve must have maintained a market capitalization of at least $ 500 billion over the past 12 months, a threshold that is currently only met by Bitcoin.
If assumed, Texas would become the third US state to establish a formal Bitcoin reserve, which joined New Hampshire and Arizona.
New Hampshire became the first US state to create a strategic bitcoin reserve after Passage of House Bill 302 (HB 302) on May 6.