Texas on the Verge of a Historic Decision: Governor Ready to Approve Law to Create Bitcoin Reserve
Bill SB 21: A Step Towards Financial Innovation
On May 22, 2025, the Texas House of Representatives passed Bill SB 21, which provides for the creation of the state's strategic bitcoin reserve. The document, developed by Senator Charles Schwertner and Representative Giovanni Capriglione, received support with 101 votes against 42. The bill allows the state treasury to invest in cryptocurrencies with a market cap above $500 billion, which currently includes only bitcoin. The document now awaits the signature of Governor Greg Abbott, who has publicly expressed support for the initiative by sharing information about its adoption on social network X.
Governor's Position: Texas as the Crypto Capital
Governor Greg Abbott, known for his pro-cryptocurrency stance, has repeatedly emphasized the significance of blockchain technologies for the state’s economy. In 2024, he called Texas the “home of mining” and expressed ambitions to make the state a global center for the crypto industry. Signing the law will be a logical continuation of his policy aimed at attracting investments and innovations. Abbott already accepts donations in bitcoins for his campaigns, highlighting his personal commitment to digital assets.
Bitcoin Reserve Mechanism
SB 21 stipulates that bitcoins for the reserve will come from taxes, fees, and voluntary donations, without using taxpayers' money. The assets will be held in reserve for at least five years, with the possibility of sale or conversion by decision of the financial controller after this period. Special attention is paid to storage security, including the use of cold wallets. The law also prohibits the use of reserve bitcoins for transactions with foreign states or individuals associated with illegal activities.
Context and Significance for the USA
Texas could become the second US state to create a bitcoin reserve, after New Hampshire, where Governor Kelly Ayotte signed a similar law on May 6, 2025. Meanwhile, initiatives in other states, such as Arizona and Florida, have faced obstacles. At the federal level, President Donald Trump signed an executive order in March 2025 to create a national bitcoin reserve, signaling growing recognition of cryptocurrencies as a strategic asset. Texas's decision, with its economic weight (GDP $2.7 trillion), could serve as a catalyst for other states and strengthen the USA’s position in the global crypto economy.
Prospects and Risks
The creation of a bitcoin reserve is seen as protection against inflation and economic volatility, particularly relevant in the face of traditional financial market instability. However, experts note the high volatility of bitcoin, which recently reached $108,000 but may face corrections. Despite the risks, supporters of the initiative, including the Texas Blockchain Council, believe it will strengthen the state’s financial independence and attract new investments in the blockchain industry.
Conclusion
The signing of Bill SB 21 by Governor Abbott could be a turning point for Texas, confirming its status as a leader in crypto innovations. This decision will not only strengthen the state’s economy but also set a precedent for other regions looking to integrate digital assets into public finance.