Texas Advances Bitcoin Reserve Bill, Following New Hampshire’s Lead

The Texas House of Representatives has approved Senate Bill 21, known as the Texas Strategic Bitcoin Reserve and Investment Act, with a strong 105-23 vote. This marks a major step toward Texas becoming the second U.S. state to establish a government-managed Bitcoin reserve, following New Hampshire’s lead earlier this month.

The bill allows the state comptroller to manage a special crypto fund outside the state treasury. Designed to serve as a hedge against inflation and economic instability, the fund can hold Bitcoin and potentially other digital assets. An advisory committee of crypto investment experts will support the comptroller’s management decisions. Additionally, the bill mandates a biannual report to the legislature on the holdings and their performance.

Representative Linda Garcia (D-TX) successfully introduced an amendment doubling the required market capitalization period from 12 to 24 months, ensuring the assets are more stable before being considered for investment. The bill's sponsor in the House, Rep. Giovanni Capriglione (R-TX), praised it as a “forward-thinking measure” to enhance the state's fiscal resilience.

Texas has become a leading hub for crypto mining in recent years, making this legislation a natural extension of its pro-crypto stance. The bill must still pass a third House reading and then reconcile differences with the Senate version before reaching the governor’s desk.

New Hampshire made history by signing HB 302 into law, authorizing its state treasurer to invest up to 5% of public funds in cryptocurrencies and precious metals. Meanwhile, Brazil and Arizona are also exploring similar measures, highlighting a growing global trend toward sovereign Bitcoin reserves.

As states seek to diversify public assets, Bitcoin's role in government portfolios appears poised to expand.