- The establishment of a “Texas Bitcoin Reserve” was among Lieutenant Governor Dan Patrick’s top priorities for the 2025 legislative session.
- With bipartisan support, Senate Bill 21 passed decisively in both the House and Senate, reflecting Texas’s strong commitment to BTC as part of its financial strategy.
Bitcoin adoption by US states continues to gain momentum as Texas prepares to make a $10 million BTC purchase as part of its strategic Bitcoin reserves. Over the last weekend, State Governor Greg Abbott signed the Senate Bill 21 into law, while directing the state to launch its own Bitcoin reserves, and thus shall be using part of its main treasury towards this.
Texas to Build A Publicly-Funded BTC Reserve
Unlike Arizona and New Hampshire, which have passed similar legislation, Texas has gone a step further by actively funding its Bitcoin reserve. The state has allocated $10 million specifically for purchasing Bitcoin to establish the reserve. This makes Texas the first state with a publicly funded BTC reserve.
Lee Bratcher, President of the Texas Blockchain Council, highlighted that the $10 million allocation accounts for just 0.0004% of the state’s budget. He emphasized that this move signals Texas’s commitment to embracing the digital future of finance, sending a strong message to investors and entrepreneurs.
The establishment of a “Texas Bitcoin Reserve” was ranked among Lieutenant Governor Dan Patrick’s top 40 legislative priorities for the 89th regular session in 2025. It also underscores the state’s strong commitment to incorporating Bitcoin into its long-term financial strategy.
Last month, the Texas House of Representatives approved Senate Bill 21 with a decisive 101-42 vote during its third reading, following bipartisan support. The bill had previously passed in the Senate with a 25-5 vote and cleared a concurrence vote on House amendments before being sent to Governor Abbott for final approval.
Other US States like Arizona and New Hampshire have also been in the race for building their own strategic BTC reserve. Earlier this year, in January, Arizona’s State Finance Committee gave a nod for SB 1025 while approving the “Arizona Strategic Bitcoin Reserve Act”. The bill allows the state to allocate 10% of public funds towards Bitcoin reserves, as highlighted by CNF.
Likewise, New Hampshire has prioritized Bill 302, dedicating efforts and resources to enable the integration of precious metals and cryptocurrencies, including Bitcoin, into the state’s financial framework.
Races for Bitcoin Treasury Heat Up
As the US national debt surges over $37 trillion, governments and corporations alike are rushing to build their own BTC reserves. With U.S. debt on the rise, Robert Kiyosaki has urged investors to safeguard their wealth by acquiring Bitcoin, gold, and silver. He warned that failing to act could leave investors holding what he calls “fake money.” A vocal critic of fiat currencies, Kiyosaki is emphasizing the need for proactive financial decisions before it’s too late.
Companies like MicroStrategy and Metaplanet have pushed with their Bitcoin acquisition plan, even during the ongoing Iran-Israel conflict. During the past weekend, Grant Cardone’s real estate firm, Cardone Capital, made a bold entry into the Bitcoin market. Under the leadership of renowned investor Grant Cardone, the firm recently acquired approximately 1,000 Bitcoins and plans to raise this number to 4,000 BTC by the year-end.
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