Texas Governor Greg Abbott has yet to sign Senate Bill (SB) 21, which would establish a Strategic Bitcoin Reserve (SBR) for the state.
On June 20, Abbott signed 306 bills from the 89th Regular Legislative Session, including 15 considered high-priority. One of those measures mandates efficiency audits across state agencies to tighten government accountability.
Legal Groundwork for a Permanent Texas Bitcoin Reserve
However, SB 21 was notably absent from the list, despite its potential to make Texas one of the first US states to hold Bitcoin as a reserve asset.
SB 21 would allow the state comptroller to allocate surplus General Revenue toward purchasing Bitcoin, using transparency and oversight guidelines similar to those already in place for gold holdings in the Texas Bullion Depository.
To maintain asset stability, the bill only permits assets with a market capitalization above $600 billion for two consecutive years. Currently, only Bitcoin meets that standard.
Governor Abbott’s office stated that he is still reviewing over 1,200 bills sent to his desk this session. That includes SB 21, which remains under consideration just days before the automatic enactment deadline.
Still, Julian Fahrer, founder of Bitcoin Laws, noted the missed opportunity for a symbolic signing event, citing similar ceremonies held for other high-profile bills.
“It’s a bit odd he missed the last weekday opportunity to hold a press conference and make a show of it – as he’s done for other high priority bills,” Fahrer said.
However, Fahrer explained that the Bitcoin bill could become law even without his signature on June 22. Under Texas law, any bill not vetoed or signed within 20 days of the legislative session’s adjournment automatically goes into effect.
“It’s in the Texas constitution. 20 days after adjournment, unsigned bills become law,” he stated.
Moreover, the Bitcoin advocate pointed out that Abbott did sign House Bill 4488, which may relate indirectly to SB 21.
That legislation secures certain state-managed funds—possibly including the proposed Bitcoin reserve—by designating them as permanent. These funds could be stored inside or outside the state treasury, based on future legislative direction.
Meanwhile, the Governor’s lack of action on SB 21 has stirred curiosity, particularly given his past support for crypto.
Just weeks ago, Abbott shared news of the bill on his official X account, signaling enthusiasm for blockchain innovation in Texas. He has also backed legislation promoting crypto mining as a tool for economic growth and grid resilience.
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