Today, H.B. 4258, which allows the state comptroller to invest as much as $250 million in bitcoin, has been sent to the Delivery of Government Efficiency Committee in Texas, akin to the DOGE in the United States federal government.
This legislation was first presented to the Texas House of Representatives on March 11, 2025, with sponsorship from two Democratic representatives — Rep. Ron Reynolds and Mihaela Plesa.
Should this bill pass, the comptroller of Texas would be enabled to allocate funds (up to $250 million) from the Economic Stabilization Fund — commonly recognized as the state’s “Rainy Day Fund.” This fund was established as a financial cushion for the state, aimed at preventing abrupt cuts to essential services like education, healthcare, and others.
The bill also permits municipalities or counties to invest a maximum of $10 million of their funds or those under their jurisdiction into bitcoin and/or other cryptocurrencies.
If enacted, the law would take effect on September 1, 2025, allowing government officials at both state and local levels ample time to create an investment strategy and custody plan.
According to Bitcoin Laws, H.B. 4258 is part of eight active bitcoin- or crypto-related bills currently in the Texas Senate or House of Representatives, marking it as the fifth to reach the committee stage.
Among these bills, four, including the current one, would permit the state to include bitcoin on its official balance sheet in various ways. The remaining three — H.B. 1598, Senate Bill (S.B.) 21, and S.B. 778 — propose the establishment of a Strategic Bitcoin Reserve (SBR) in Texas.
These three SBR bills are currently in committee, with S.B. 21 undergoing its second review. This bill recently moved through the state Senate with a vote of 25-5.
Texas holds the position of the state with the second-highest number of active bitcoin and crypto-related bills, following Arizona, which has nine active bills, three of which are nearing legalization.
The state continues to be recognized as one of the most Bitcoin-friendly in the U.S., not only due to its legislative support but also because it hosts approximately one-third of the total bitcoin mining hash rate in the country.
