Bitcoin Adds to Texas's "Everything Is Bigger" Reputation As The State Moves Closer to Creating Its Own Strategic Bitcoin Reserve

Everything is bigger in Texas, the popular saying goes. Now, Bitcoin adds to that reputation as the state moves closer to creating its own strategic Bitcoin reserve.

The saying "Everything is bigger in Texas" may soon take on a whole new meaning as the state edges closer to creating its own strategic Bitcoin reserve.

A bill that would create the program and place it under the management of the Texas Comptroller of Public Accounts passed the Senate with a landslide 9–0 vote on February 27, 2025.

The initiative, sponsored by Senator Charles Schwertner of Texas, began in January 2025 with the goal of establishing a bitcoin reserve for the state. However, the legislation does not include provisions for the purchase of other digital assets, despite suggestions to expand the scope of the investment strategy.

It would see the state acquire, sell, or otherwise trade bitcoin as part of a long-term investment strategy. The bitcoin reserve would not be part of the state treasury, allowing for more flexibility in how the funds are handled.

Texas Strategic Bitcoin Reserve

Earlier this year, Schwertner announced plans to introduce legislation to create the Texas Strategic Bitcoin Reserve. The initiative aims to propel Texas into a leadership role in the emerging field of digital assets.

“It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve,” Schwertner said in January.

> "That's why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve. This would position our state at the forefront of an industry that is rapidly changing the global financial landscape."

The legislation, which has been assigned to the Senate State Affairs Committee, would authorize the Texas Comptroller of Public Accounts to manage the bitcoin reserve.

The bill would also create a new bitcoin reserve advisory committee to provide recommendations to the comptroller on investment strategy, and it would require the comptroller to submit a biennial report to the legislature on the bitcoin reserve’s activity and performance.

Bitcoin Price Today

The price of bitcoin is up and down a lot today, but this story is still coming together as the proposal to invest in bitcoin is getting closer to becoming a reality.

Bitcoin is trading at $79,500 as of 12:44 p.m. ET on Wednesday, which is down 8.3% in the past 24 hours. The price of bitcoin hit a high of $86,970 and a low of $79,105 in the past 24 hours.

This recent price action highlights the pros and cons of trading or simply holding, or “hodl” in cryptocurrency slang, bitcoin for the long term.

The cryptocurrency has seen its fair share of price volatility in the past, and some critics say that texas could become financially unstable by investing in such a volatile commodity.

However, some traders and investors see this volatility as an opportunity to profit from price movements through short-term trading or to capitalize on long-term trends with a buy-and-hold strategy.

What Other States Are Doing

Texas is among several states that are considering investments in cryptocurrency.

Similar proposals by Oklahoma, Arizona, and Utah would see these states include digital assets in their financial reserves. However, none of these states have yet passed such legislation.

Should SB-21 be enacted, it might set standards for other states to follow in investing in cryptocurrencies and integrating them into their public financial systems.

The bill would also create a new bitcoin reserve advisory committee to provide recommendations to the comptroller on investment strategy, and it would require the comptroller to submit a biennial report to the legislature on the bitcoin reserve’s activity and performance.

It remains to be seen whether the bill will be able to pass the legislature and if the governor will sign it into law. If the bill is passed and signed into law, it could make Texas a pioneer in state-level cryptocurrency investment.

Who Is For And Against

Those in favor of the measure highlight that its distributed nature makes Bitcoin appealing to Texas. They view it as a means to propel the Lone Star state into an early adopter of digital assets, ultimately boosting the state’s financial independence.

On the other hand, critics of Bitcoin raise concerns over its rapid price fluctuations and the potential burden on taxpayers if the reserve were to lose value. These issues have come into focus as legislators discuss the plan in the wake of recent bitcoin price drops.

The bill is now one step closer to becoming law, and it will be interesting to see if Texas will officially add bitcoin to its balance sheet.