Texas Senate Bill 778: The Lone Star State's Push for a Strategic Bitcoin Reserve

A Strategic Bitcoin Reserve bill in Texas was referred to the Senate's Finance Committee today, signaling a step in the state's push to hold Bitcoin as a reserve asset.

A bill to create a Strategic Bitcoin Reserve in Texas was referred to the Senate’s Finance Committee on Monday, advancing a proposal that would allow the state to hold Bitcoin as a reserve asset. This move comes amid growing interest from various U.S. states in establishing Bitcoin reserves.

The proposal, which has already gained traction in Texas’ legislative circles, is part of a broader trend toward exploring how Bitcoin might be used as a store of value and a means to secure economic freedom at the state level.

Texas Senate Bill 778: A Closer Look

Introduced in December 2024 during the 89th legislative session, Texas Senate Bill 778 proposes the creation of a Bitcoin reserve distinct from the state’s general revenue fund. The reserve would allow Texas to accumulate Bitcoin as a state asset, with clauses for further purchases and the possibility for residents to contribute Bitcoin.

The bill defines a "strategic bitcoin reserve" as a portion of the state assets that is separate from the general revenue fund and consists of Bitcoin that may be further purchased by the state and to which a resident of this state may voluntarily contribute Bitcoin.

According to the bill's text, the state treasurer is permitted to accept contributions of Bitcoin from any resident to the strategic bitcoin reserve. Furthermore, the state treasurer is required to credit any Bitcoin contributed under this section to the strategic bitcoin reserve.

The bill also includes provisions for the state treasurer to adopt rules relating to the contribution of Bitcoin by a resident and to the crediting of that Bitcoin to the strategic bitcoin reserve.

Moreover, the bill states that the state treasurer is authorized to purchase Bitcoin for the strategic bitcoin reserve from any seller that offers Bitcoin for sale in a transparent, efficient, and competitive marketplace.

Finally, the bill includes a provision stating that the state treasurer is prohibited from purchasing Bitcoin for the strategic bitcoin reserve from a seller if the seller does not disclose the material terms of the Bitcoin sale to the state treasurer.

Other States Join the Bitcoin Reserve Initiative

Texas is not the only state pursuing the creation of a Bitcoin reserve. Several other U.S. states are working on bills to create state-level Bitcoin or cryptocurrency reserves. Some of these bills have already advanced from legislative committees.

This development signals the growing bipartisan interest in exploring cryptocurrency as part of state financial planning. In recent months, several states have taken steps to integrate digital assets into their economic strategies.

Several public officials in Texas have expressed support for the push to create a Bitcoin reserve. State Senator Charles Schwertner, who introduced the recent version of the bill in January 2025, argued that such a reserve would position Texas as a leader in the digital economy.

It's time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. 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… pic.twitter.com/dRdCt86Otr

Earlier, state Representative Giovanni Capriglione proposed legislation to allow Bitcoin payments for taxes and fees, which would further facilitate the creation of the reserve.

Texas' Economic Power in the Bitcoin Era

If Texas were a sovereign nation, its economy would be the 8th largest in the world, considering the state's size and economic output. The state's financial power is significant, with annual revenue exceeding $250 billion.

By establishing a Bitcoin reserve, Texas could further solidify its role in the global economy, positioning itself as a leader in digital finance and setting an example for other states and nations to follow in the coming years.

Related Topics:Bitcoin cryptocurrencyEconomic FreedomTexas United States