Texas Introduces Second Crypto Reserve Bill, Targeting Bitcoin and Other Digital Assets

According to a document released on March 10, the proposed legislation, HB 4258, seeks to allocate up to $250 million from the state's economic stabilization fund for Bitcoin and other digital assets.

Texas has introduced a second bill to create a crypto reserve, marking another step toward integrating Bitcoin into the state’s financial framework.

The proposed legislation, HB 4258, aims to allocate up to $250 million from the state’s economic stabilization fund for Bitcoin and other digital assets, according to a document released on Monday.

This marks the second attempt by the state to establish a digital asset reserve, following the earlier SB 778, which recently secured bipartisan support in the Senate.

Unlike the previous proposal, HB 4258 explicitly caps investment and extends participation to municipalities and counties, enabling them to allocate a maximum of $10 million to digital assets.

If approved and signed into law by Gov. Greg Abbott, the bill would take effect on Sept. 1, 2025.

Texas’ push for a Bitcoin reserve aligns with broader trends across the U.S., where 21 states are currently exploring similar frameworks at different legislative stages. Some states have active proposals, while others are still conducting evaluations.

The state's first Bitcoin bill, SB 778, focuses on integrating crypto into the state's financial system by enabling tax payments and donations in digital assets.

It also seeks to impose a five-year restriction on selling state-owned Bitcoin.

With Senate approval secured, the bill now awaits a decision in the Texas House, which is expected to make a judgment by May 24.

Meanwhile, support for the initiative has been strong, with Texas Lieutenant Governor Dan Patrick calling the establishment of a Bitcoin reserve a strategic move that could set an example for other states.

He highlighted Bitcoin's decentralized nature and finite supply, describing it as a valuable asset for Texas's financial future. Patrick added:

"President Trump has stated unequivocally that he intends to make the United States the cryptocurrency capital of the world. His visionary leadership on Bitcoin and digital assets has paved the way for rapid American innovation, and Texas is leading the way."

Oluwapelumi Adejumo is a writer and crypto enthusiast with a passion for exploring the transformative potential of decentralized technologies. He is interested in a range of topics within the crypto space, including DeFi, major hacks, mining, and the cultural impact of crypto. In his free time, Oluwapelumi enjoys cooking, traveling, and spending time with family and friends. He is also a firm believer in the importance of giving back to the community.

Liam 'Akiba' Wright is Editor-in-Chief at CryptoSlate and host of the SlateCast. He is passionate about the potential of decentralized technology to make widespread positive change in the world. When he's not writing about crypto, Liam enjoys spending time with his family and friends, and exploring new cultures and cuisines. He is also a volunteer at a local food bank and animal shelter.