Chiara Bianchi
Texas is on the verge of making history by creating a state-backed Bitcoin reserve, a move that would place it among the few U.S. states officially embracing Bitcoin as part of their financial strategy. Senate Bill 21, which enables the formation of this reserve, has successfully passed through the state legislature and now awaits the signature of Governor Greg Abbott.
According to Lee Bratcher, President of the Texas Blockchain Council, there is strong optimism that Governor Abbott will approve the bill in the coming days.
โIโve personally discussed this with the governor, and I believe he sees Texas taking a leadership role in Bitcoin innovation,โ Bratcher said in a statement to PRIME. โWeโre hopeful, but of course, itโs his call to make.โ
Once signed, Texas would become the third U.S. state to establish a Bitcoin reserve, following Arizona and New Hampshire, aligning with a growing trend initiated by a federal executive order from President Donald Trump in March to develop a Strategic Bitcoin Reserve.
Texas Plans a Conservative Bitcoin Investment Strategy
Although Texas boasts one of the largest economies in the world, its initial Bitcoin investment is expected to be modest. Bratcher estimates that the amount will likely range in the tens of millions of dollars.
โThat might sound like a big number, but for Texas, itโs just a drop in the bucket,โ Bratcher explained. โThe state comptroller will manage the reserve conservatively using established investment protocols.โ
The Texas Comptrollerโs Office, responsible for managing public funds, will determine how much Bitcoin to purchase, when to acquire it, and how to ensure responsible stewardship of taxpayer dollars.
Years in the Making: Bitcoin Reserve Vision Rooted in 2022
The idea of a Texas Bitcoin reserve has been on the radar for several years. Bratcher revealed that the initial concept emerged in 2022, and since then, his council has worked closely with crypto-forward legislators to shape and promote the proposal.
โWeโve believed in this initiative for a long time,โ said Bratcher. โTexas is already a global leader in Bitcoin mining โ establishing a reserve is the natural next step.โ
Texas: A Rising Star in the Crypto Landscape
Texas has long been known as a crypto-friendly jurisdiction, especially with its favorable energy policies attracting major Bitcoin mining operations from around the world. Establishing a state-held Bitcoin reserve would further solidify its reputation as a U.S. blockchain hub and global crypto innovation leader.
With the governor’s signature expected soon, Texas could officially declare Bitcoin as a strategic asset, reinforcing its position at the intersection of finance, technology, and policy.
