Texas Governor Greg Abbott has signed legislation authorizing a $10 million allocation to create the United States’ first state-owned Bitcoin reserve, demonstrating the state’s leadership in cryptocurrency adoption within public finance. The initiative positions Texas as a trailblazer compared to other states exploring digital asset integration.
The Bitcoin Reserve Bill SB 21 received bipartisan legislative support, passing the Texas House with 105 affirmative votes. This move aims to diversify the state’s economy by formally integrating Bitcoin into public financial systems, setting Texas apart from jurisdictions such as Arizona and New Hampshire currently contemplating similar measures.
Lee Bratcher, president of the Texas Blockchain Council, highlighted the state’s pioneering role in digital asset governance, describing the legislation as a potential model for other jurisdictions. While the allocation represents a small portion of the state’s budget, it serves as a significant symbolic endorsement of Bitcoin’s evolving role in institutional finance.