A legislative proposal that could position Texas as a leader in digital asset adoption has taken a significant step forward. The Texas Senate Banking Committee voted 9-0 to advance Senate Bill 21 (SB-21), which aims to establish a strategic reserve composed of Bitcoin and other cryptocurrencies. The bill will now proceed to the Senate floor for further consideration.
Texas Bitcoin Reserve Bill
If enacted, SB-21 would grant the Texas Comptroller of Public Accounts the authority to buy, sell, and trade digital assets as part of the state’s financial management strategy. The legislation emphasizes cryptocurrency’s potential as a safeguard against economic instability, stating, “Bitcoin and other cryptocurrencies can serve as a hedge against inflation and economic volatility, and the establishment of a strategic bitcoin reserve serves the public purpose of providing enhanced financial security to residents of this state.”
The bill, originally introduced in January 2025 by State Senator Charles Schwertner, initially focused solely on Bitcoin. However, a revised version filed in February expanded its scope to include other digital assets. This change followed an executive order issued by President Donald Trump on January 23, which called for a commission to examine the feasibility of a federal digital asset reserve.
INTEL: Texas Business & Commerce Committee passes the Strategic $BTC Reserve bill, moving it to the Senate floor
— Solid Intel 📡 (@solidintel_x) February 27, 2025
Texas is not alone in pursuing such legislation. Similar cryptocurrency reserve bills are under consideration in states like Oklahoma, Arizona, and Utah, signaling a broader trend of U.S. states looking to diversify financial reserves in response to concerns over inflation and the stability of the U.S. dollar.
Expert Reactions & Legislative Impact
Industry experts and advocates have weighed in on the bill’s significance. During a public hearing for SB-21 on February 18, Pierre Rochard, Vice President of Research at Riot Platforms, spoke in favor of establishing a Bitcoin reserve. He pointed out that while Texas currently enjoys economic prosperity, preparing for potential downturns is crucial. “Public trust and financial institutions have eroded due to a lack of transparency, but Bitcoin is a unique asset because it is fully auditable,” Rochard explained.
Despite the bill’s progress, analysts caution against overestimating its immediate impact. Iliya Kalchev, an analyst at Nexo, noted that the hearing was largely symbolic and unlikely to serve as a major catalyst for Bitcoin adoption or price movements. Kalchev added that “unless specific policies were enacted—like the state of Texas actively acquiring BTC as part of its portfolio—the markets would have a lukewarm response to the news.”
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