Texas has formally joined the small however rising listing of U.S. states shifting towards on-chain finance, passing a invoice that protects Bitcoin reserves.
Key Takeaways:
- Texas has grow to be the primary US state to launch a publicly funded, standalone Bitcoin reserve.
- Different states like Florida and Arizona have backed away from comparable efforts.
- The transfer follows President Trump’s govt order to determine a federal strategic Bitcoin reserve.
Governor Greg Abbott signed Senate Invoice 21 into legislation on Saturday, establishing a state-funded Bitcoin reserve, the primary of its sort within the nation.
In contrast to comparable initiatives in Arizona and New Hampshire, Texas is making a standalone reserve fund completely separate from the state treasury.
Texas Faucets Comptroller to Oversee New Bitcoin Fund
The fund shall be overseen by Texas Comptroller Glenn Hegar and goals to discover Bitcoin as a strategic asset class.
“We are able to purchase land, we will purchase gold; I believe the state of Texas ought to have the choice of evaluating the very best performing asset over the past 10 years,” mentioned invoice writer Senator Charles Schwertner earlier this 12 months.
A companion invoice, HB 4488, additional shields the Bitcoin reserve from being raided in the course of the state’s routine fund reallocations and secures its authorized standing no matter when, or if, Bitcoin is bought.
JUST IN: Texas Governor Greg Abbott indicators Bitcoin Reserve invoice SB 21 into legislation.
Texas is now the third state with a Bitcoin Reserve. pic.twitter.com/2JJOc7anf4— Bitcoin Legal guidelines (@Bitcoin_Laws) June 21, 2025
Regardless of its doubtlessly far-reaching implications, the initiative was unnoticed of the governor’s listing of high legislative priorities.
Texas’ transfer comes as some US states abandon efforts to determine a strategic Bitcoin reserve.
In Might, Florida turned the most recent to drop crypto laws, becoming a member of different states, together with Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma.
Likewise, Arizona’s Home Invoice 1025, which had superior additional than some other comparable invoice nationwide, was vetoed on Might 3 by Governor Katie Hobbs.
She referred to as digital property “untested investments,” successfully stopping the proposed Digital Belongings Strategic Reserve Act in its tracks.
The hesitance to embrace BTC comes amid considerations over its worth volatility and long-term viability as a reserve asset.
On the Federal entrance, President Donald Trump signed an govt order establishing a strategic Bitcoin reserve.
Public Firms Embrace Bitcoin as Strategic Funding
In the meantime, public companies proceed to embrace Bitcoin as a steadiness sheet hedge or strategic funding. Latest knowledge exhibits 223 public firms now maintain Bitcoin, up from 124 simply days earlier.
In whole, greater than 819,000 BTC, roughly 3.9% of the entire provide, is at the moment held by public companies, in accordance with BitcoinTreasuries.NET.
MicroStrategy stays the biggest company Bitcoin holder, with 580,250 BTC price roughly $60.9 billion.
Different main holders embrace Marathon Digital Holdings and Tesla, each with over $1 billion in Bitcoin.
As reported, digital asset firms are flooding capital markets to boost funds for large-scale Bitcoin acquisitions, spurred by the cryptocurrency’s rally to a document $111,965 final week.
The surge, up greater than 50% from early April, has ignited a wave of listings and mergers as companies race to safe funding whereas investor urge for food stays robust.
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