Texas has become the third U.S. state to authorize a public Bitcoin reserve, enacting legislation enabling the state to purchase, hold, and manage Bitcoin as an official treasury asset. The move establishes Bitcoin as a strategic financial safeguard against inflation and economic instability through a legally protected framework.
Senate Bill 21 empowers the Texas Comptroller to directly acquire, custody, and administer Bitcoin within a designated Strategic Bitcoin Reserve. The framework allows Bitcoin accumulation via purchases, forks, airdrops, or donations while granting operational flexibility for asset management.
Eligibility for the reserve is strictly limited to digital assets maintaining a market capitalization exceeding $500 billion over 24 consecutive months—a threshold only Bitcoin currently meets. This restriction ensures the reserve focuses exclusively on the highest-value cryptocurrency during its initial phase.
The legislation provides robust legal protections, exempting the reserve from legislative dissolution and mandating biannual public transparency reports. These safeguards ensure operational independence while maintaining accountability for taxpayer assets.
Surpassing earlier initiatives by states like New Hampshire and Arizona, Texas sets a precedent with dedicated public funding and a comprehensive legal structure. The program marks a significant advancement in state-level cryptocurrency policy aimed at long-term economic resilience.