Today, the Texas Senate approved SB 21, a legislation designed to establish a strategic Bitcoin reserve for the state, with a vote of 25-5. The bill is set to move forward to the Texas House for additional review.
In January, Texas Lieutenant Governor Dan Patrick marked SB 21 as a key objective for the 2025 legislative session. The legislation aims to position Texas as a frontrunner in Bitcoin adoption by creating a reserve of BTC, which supporters believe will act as a safeguard against economic volatility and inflation.
The bill garnered substantial support during a Senate Committee on Business and Commerce hearing on February 18, attracting many Bitcoin proponents, including Pierre Rochard of Riot Platforms, North America’s largest Bitcoin mining entity. Advocating for the bill, Rochard remarked, “Bitcoin will continue to accrue long-term value, so now is the perfect time to make a strategic investment.”
Charles Schwertner, Chairman of the Senate Committee on Business and Commerce, also highlighted the increasing significance of Bitcoin in financial markets, stating, “Bitcoin, referred to as digital gold by the US Treasury, has become a recognized asset in the financial markets.”
The Senate’s approval of the bill arrives as interest in Bitcoin reserves is escalating nationwide. Just days ago, President Donald Trump revealed plans for the United States to establish a federal Bitcoin reserve. He is expected to share more about the federal Bitcoin reserve during the forthcoming Digital Assets Summit at the White House tomorrow, following comments by Commerce Secretary Howard Lutnick, who stated that an official announcement is forthcoming. Lutnick said, “A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday.”
As SB 21 heads to the Texas House, attention is focused on whether Texas will emerge as a leader in Bitcoin adoption at the state level. If approved, Texas could be the first U.S. state to officially include Bitcoin as part of its financial strategy, setting a benchmark for other states to emulate.
SB 21 is nearing the final stages of being formally enacted into law. Additional updates on the status of SB 21 and other U.S. Bitcoin reserve initiatives can also be found on Bitcoin Laws.
