Texas passed Senate Bill 21 (SB21), which established the “Bitecoon Strategic Reserve of Texas” as the third state to include Bitcoin in its investment strategy, following Arizona and New Hampshire. This bill, officially known as the Bitcoin Strategic Reserve and Investment Act of Texas, has passed both houses of the legislature and is now being sent to Governor Greg Abbott for final approval.

SB21 authorized the creation of the Texas Bitcoin Strategic Reserve, a special fund located outside the State Treasury, which allows Texas to invest directly in Bitcoin and other authorized encrypted currencies. This measure gives the County Treasurer the right to manage the reserves in a comprehensive manner, including access, management, pledge and the realization of potential digital assets.

According to the law, “the establishment of strategic bitcoin reserves serves public purposes and provides enhanced financial security for residents of the state”.

The funds will be managed under strict conditions by the county finance directors:

  • Only the average market value of the last 12 months can be purchased at least $500 billion.
  • Assets must be kept under “cold storage” technology to prevent unauthorized access.
  • It could be operated by third-party partners, including qualified trustees and liquidity providers.
  • Pledges and derivatives can be used if they are in the interest of the reserve.
  • The source of the fund could be legislative grants, donations from Texas residents and return on investment. Although the reserve operates independently, in certain circumstances the County Controller may temporarily use it for state cash management.

Although Governor Abbott has not yet indicated whether he will sign the bill, his past support of the CIT suggests that the results may be optimistic.

In an interview, the Governor stated: “Tex is participating in this process as early as possible, because we see what bitcoin and block chains mean for the world in the future. Texas wants to be at the heart of this process. We are therefore promoting and advancing it.”

When New Hampshire passed its bill on 6 May 2025, the chief executive officer and co-founder of the Satoshi Action commented that it was only the beginning, and we are now witnessing the development of that vision.

Dennis Porter said on X: “Satoshi Action has developed a model that New Hampshire has written into law and is now accessible to finance directors throughout the country. HB 302 proves that while protecting taxpayers' funds, you can diversify reserves and modernize state finances — all of which embrace the safest monetary network on Earth. New Hampshire did not just pass a bill; it inspired a movement.”