Texas has signed Senate Bill 21 into law and has allocated $10 million to the purchase of Bitcoin, taking the lead among States exploring a BTC treasury.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
Over the weekend, Texas Governor Greg Abbott signed Senate Bill 21 for a Bitcoin BTC $105 906 24h volatility: 2.1% Market cap: $2.10 T Vol. 24h: $39.47 B reserve into law.
As a result, the state is set to invest $10 million in Bitcoin for the reserve. This marks a key milestone in the US movement toward a national strategic Bitcoin reserve.
Texas is now the first US state with a publicly funded, stand-alone Bitcoin reserve. According to the bill signed by Governor Abbott, the state is directed to establish a Bitcoin reserve that is managed independently from the main treasury.
In addition to allocating funds for further Bitcoin purchases, residents can donate BTC to the reserve.
Texas to purchase $10M worth of #Bitcoin for a state reserve. pic.twitter.com/aUkAd6fLYl
— TFTC (@TFTC21) June 23, 2025
Lee Bratcher, the President of the Texas Blockchain Council, noted that the $10 million fund represents only 0.0004% of the state’s budget. He believes that it would signal to investors and entrepreneurs that Texas fully understands that the future of finance is digital.
This move places Texas among a small but growing group of states exploring crypto reserves, including Pennsylvania, Ohio, New Hampshire, and Wyoming. Several have introduced or passed bills to create their own Bitcoin reserves.
A “Texas Bitcoin Reserve” was among Lieutenant Governor Dan Patrick’s top 40 legislative priorities for the 89th regular session 2025. The priority and urgency given to the subject reflect the state’s firm commitment to Bitcoin as part of its long-term financial strategy.
Last month, the Texas House of Representatives passed Senate Bill 21 in a 101-42 vote in the third reading. It gained support from various political parties, following an approval in the Senate with a 25-5 vote. It passed a concurrence vote on House amendments before being sent to Governor Abbott.
As expected, the governor signed it into law, demonstrating his strong and consistent support for cryptocurrency.
Arizona has also been considering a strategic BTC reserve for some time. In January, the Senate Finance Committee approved SB 1025, the “Arizona Strategic Bitcoin Reserve Act.”
This bill allows the state to allocate up to 10% of public funds toward Bitcoin investments. Should the US Secretary of the Treasury establish such a system, the account will be linked to a federal Strategic Bitcoin Reserve.
Similarly, New Hampshire has invested efforts and resources into Bill 302, which would allow the state to incorporate precious metals and cryptocurrencies like Bitcoin into its financial strategy.
Like Arizona, the goal is to invest up to 10% of the state’s funds in cryptocurrencies with a market capitalization over $500 billion. Currently, only Bitcoin meets this criterion.
In the first week of May, New Hampshire eventually became the first US state to pass a Strategic Bitcoin Reserve bill, leaving Arizona behind.
Meanwhile, Arizona’s Bitcoin reserve bills are being revived for reconsideration after it was initially voted down in the House during their third reading on May 7.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.