Texas Bitcoin Reserve Bill Advances to Senate Floor

• Texas Senate Bill 21 (SB 21) passes the Business and Commerce Committee.
• The bill aims to establish a strategic Bitcoin reserve for the state.
• It now moves to the Senate floor for further deliberation.

Texas has taken another step towards solidifying its stance on Bitcoin . Senate Bill 21 (SB 21), which proposes the creation of a state-controlled Bitcoin reserve, has successfully passed the Business and Commerce Committee. This crucial step brings the bill closer to becoming law, as it now heads to the Texas Senate floor for further discussion and potential approval.

What SB 21 Means for Texas

The proposed legislation seeks to establish a strategic Bitcoin reserve that would be managed by the state. The primary goal is to secure financial stability and provide Texas with an alternative asset amid economic uncertainties. If approved, this move would make Texas a pioneer in state-backed Bitcoin adoption, reinforcing its reputation as a crypto-friendly jurisdiction.

Supporters argue that a Bitcoin reserve could serve as a hedge against inflation and economic instability, ensuring long-term financial security for the state. Critics, however, raise concerns about volatility and regulatory challenges associated with holding Bitcoin as a state asset.

JUST IN: 🇺🇸 Texas Strategic Bitcoin Reserve legislation SB 21 PASSES the Business and Commerce Committee and now heads to the Senate floor.

— Bitcoin Magazine (@BitcoinMagazine) February 27, 2025

What’s Next for SB 21?

Now that the bill has cleared the committee stage, it will be debated on the Senate floor. If it secures approval, it will move to the Texas House for further evaluation before potentially being signed into law. Given Texas’ pro-crypto stance, the bill has strong chances of progressing further.

The passage of SB 21 highlights Texas’ ongoing commitment to Blockchain and digital assets, positioning the state as a leader in cryptocurrency adoption in the U.S.