Today, the Texas Senate passed SB 21, a bill aimed at creating the state's strategic Bitcoin Reserve, by voting 25-5. The bill will advance to Texas homes for further consideration.
Texas Lieutenant Governor Dan Patrick identified SB 21 this January as the 2025 Legislative Conference's priority bill. The bill aims to position Texas as a leader in Bitcoin adoption by establishing BTC reserves.
Support for the bill was evident at a Feb. 18 hearing held by the Business and Commerce Committee on the Texas Senate Committee. The hearing attracted many Bitcoin supporters, including Pierre Rochard of Riot Platforms, the largest Bitcoin mining company in North America. In favor of the bill, Rochard said:
Senate President Charles Schwartner also highlighted the growing role of Bitcoin in financial markets, saying “Bitcoin, known as digital gold, has become an asset recognized in the financial markets by the US Treasury.”
The passage of the bill in the Senate comes with growing national interests on Bitcoin reserves. Just a few days ago, President Donald Trump announced that the United States would establish a federal Bitcoin Reserve. President Trump will provide details on federal Bitcoin Reserve at the Digital Assets Summit tomorrow at the White House, based on Howard Lutnick's comments yesterday. “Bitcoin's strategic reserves are something the president is interested in,” Lutnick said an official announcement is expected soon.
As SB 21 moves to a Texas home, all eyes are looking at whether Texas will establish itself as a leader in Bitcoin recruitment at the state level. If passed, Texas could be the first US state to officially hold Bitcoin as part of its financial strategy, setting precedents other states should follow.
The SB 21 is approaching the finish line where it is officially signed to the law. Other updates on the status of SB 21 and other US Bitcoin Reserve Act can also be found in Bitcoin Law.
