The Texas Bitcoin Reserve Bill (SB 21) has successfully advanced past the Business and Commerce Committee, moving one step closer to potential approval. Following this milestone, the bill will now head to the Texas Senate for further debate and consideration. If enacted, SB 21 would establish a state-managed Bitcoin reserve, reinforcing Texas’ role as a leader in digital asset adoption.
This committee approval signals increasing legislative support for the initiative, which could integrate Bitcoin into Texas’ financial strategy. By pursuing a state-controlled Bitcoin reserve, Texas joins other U.S. states exploring cryptocurrency as a viable financial asset. If the Senate greenlights the bill, it could set a significant precedent for how state governments manage digital assets.
As SB 21 moves to the next legislative phase, senators will evaluate its potential risks and benefits. Their decision will determine whether the bill progresses further in the approval process. Senator Schwertner said in a hearing on Tuesday. “We can buy land, we can buy gold. I think the state of Texas should have the option of evaluating the best-performing asset of the last ten years.”
Meanwhile, not all states are following the same path. In Montana, a similar bill that aimed to allow the state to invest in Bitcoin as a reserve asset was recently rejected. Despite initial committee approval, the proposal was ultimately struck down in a vote by the Montana House of Representatives.
The Montana bill sought to create a special state revenue account for investments in precious metals and digital assets, including cryptocurrencies, stablecoins, and NFTs. However, a divided vote—40 Republicans and one Democrat in favor, versus 41 Democrats and 18 Republicans against—led to its failure.
As discussions around state-managed Bitcoin reserves continue across the U.S., Texas’ legislative process will be closely watched to see if it becomes a pioneer in state-level cryptocurrency adoption.
