Key takeaways:
- Texas Governor Greg Abbott signals the final approval for the Bitcoin Strategic Reserve.
- If approved, Texas will become the third U.S. state to build a reserve, following New Hampshire and Arizona.
- Greg Abbott has been a long supporter of pro-crypto policies, aligning with the motto of the Trump administration.
- While Texas signals embracing the reserve, at least eight states have rejected the Bitcoin reserve bill so far.
Texas Governor Greg Abbott reassures his support for the Bitcoin Reserve Bill by sharing an article about the legislative efforts to pass the bill on his official X account. It is now widely expected that he will sign the final approval to set up the reserve, which has already passed by the Texas House of Representatives with a 101-42 vote.
If passed, the bill will establish a Strategic Bitcoin Reserve, a state-controlled fund that invests in cryptocurrencies with a market capitalization of at least $500 billion, that is, Bitcoin.
While Texas remains the largest state facilitating Bitcoin mining, it is late in establishing the Bill. New Hampshire Governor Kelly Ayotte was the first to sign a State-based Bitcoin reserve bill, and Arizona Governor Katie Hobbs followed the same. However, at least eight states have rejected the bill so far.
Bitcoin Reserve Bill Awaits Governor Greg Abbott’s Signature
Authored by Senator Charles Schwertner and sponsored by Representative Giovanni Capriglione, the Texas Bitcoin Reserve Bill was first introduced at the legislature on February 12th, 2025. After passing both the Senate on March 6th, the Texas House of Representatives passed SB 21, awaiting final confirmation from Greg Abbott.
As an open supporter of pro-crypto policies since 2021, Greg Abbott is expected to sign the bill soon, and his recent X post fuels this anticipation. Beyond embracing technological and economic innovations, the governor continues to work together with the Trump administration to preserve Texas values.
Texas Joins New Hampshire and Arizona
After passing the bill, Texas will become the third state to establish a Bitcoin reserve, following New Hampshire and Arizona. New Hampshire’s reserve bill allows 5% of the state fund to invest in Bitcoin, however, Arizona establishes it in a distinct way, using Bitcoin seized by its law enforcement. So, technically, Texas will become the second state to create a proper reserve based on the tax money.
Various U.S. States Reject Bitcoin Reserve Bill Due to Volatility Risks
While the U.S. economic milieu is largely in support of Bitcoin reserve, including the approval of President Donald Trump, various states have rejected the bill by outlining potential dangers. The main concern was the dangers of using public money to invest in highly volatile assets like Bitcoin.
The states that dismissed the bill include Montana, North Dakota, Oklahoma, Pennsylvania, South Dakota, and Wyoming. Although rejected, the proponents have a chance to apply for it again, aiming at the diversification of governments’ investment portfolios. It can also act as an inflation hedge in the future, supporting the state’s growth.
About Strategic Bitcoin Reserve
Strategic Bitcoin Reserve is a Bitcoin-based reserve asset that is capitalized by government funds and forfeited Bitcoin. The national Bitcoin reserve was approved by Donald Trump in March 2025, with the motto of making America the crypto capital of the world. States can also have independent Bitcoin reserves following the approval of the state administration. While various states rejected the idea of a reserve, blockchain experts expect that all will reexamine the decision.