Texas Senate Passes Bitcoin (BTC) Strategic Reserve Bill SB-21

The Texas Senate passed the Bitcoin (BTC) strategic reserve bill SB-21 in a 25-5 vote on March 6, following a fierce debate on the state Senate floor.

The Texas Senate has passed a bill that would create a Bitcoin (BTC) strategic reserve.

The bill, SB-21, was passed by a vote of 25-5 on March 6 following a fierce debate on the state Senate floor.

The bill must still be signed by the governor to be passed into law and if SB-21 is enacted, Texas will become the first state in the U.S. to have a digital asset strategic reserve.

Texas state senator Charles Schwertner arguing for the merits of SB-21. Source: Bitcoin Laws

Related: New Hampshire Bitcoin bill passes through House committee in a landslide

Texas Strategic Bitcoin Reserve bill gets overhaul

The Texas Strategic Bitcoin legislation was introduced in January as a Bitcoin-only bill that did not mention the acquisition of other digital assets.

However, in February, the bill was refiled with broader language to reflect the potential inclusion of other digital assets.

Texas lawmakers overhauled the bill following U.S. President Donald Trump’s Jan. 23 executive order directing a commission to study the feasibility of a “digital asset stockpile,” which would likely include multiple cryptocurrencies.

The first page of SB-21, which seeks to establish a strategic Bitcoin and digital asset reserve in Texas. Source: Texas Senate

States lead the charge toward Bitcoin reserves

Wyoming Senator Cynthia Lummis, one of the most vocal proponents of a U.S. Bitcoin strategic reserve, recently told an audience at the Bitcoin Investor Week conference in New York that states will likely adopt Bitcoin reserves before the federal government does.

A map showing the progress of strategic reserve bills in the 50 U.S. states. Source: Bitcoin Laws

Lummis, who introduced the Bitcoin Act of 2024 to the U.S. Senate in July 2024, argued that federal adoption would be slower than state adoption due to bureaucratic and procedural hurdles.