Texas Senate Committee Greenlights Bitcoin Reserve Bill With 9-0 Vote

 The Texas Senate Committee has advanced the Bitcoin Reserve Bill SB-21, which would allow the state to manage Bitcoin and digital investments for financial stability.
The Texas Senate Committee now advanced the Bitcoin Reserve Bill SB-21 to the Senate after it obtained (9-0) approval votes. Texas Senate members voted unanimously in favor of the bill, letting the Comptroller of Texas direct Bitcoin and other digital investments for stronger financial stability. The bill will now move to the full Senate for further discussion and consideration.

Texas Bitcoin Reserve Bill Proceeds To The Senate

A measure enabling Texas to oversee its own Bitcoin and cryptocurrency investment portfolio has passed to the full Senate for legislative evaluation after unanimous approval by the Texas Senate Banking Committee. Under Senate Bill (SB-21), the Texas Comptroller of Public Accounts will receive authorization to acquire and conduct Bitcoin and other cryptocurrency transactions developed by State Sen. Charles Schwertner. 

<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>🚨 BREAKING: Texas Senate unanimously approves the Strategic <a href=”https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw”>#Bitcoin</a> Reserve! 🎉 Senate Bill 21 passes 9-0, marking a historic step for <a href=”https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw”>#Bitcoin</a> adoption. 🌍💰 <a href=”https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw”>#BTC</a> <a href=”https://twitter.com/hashtag/Texas?src=hash&amp;ref_src=twsrc%5Etfw”>#Texas</a> <a href=”https://twitter.com/hashtag/BitcoinOnly?src=hash&amp;ref_src=twsrc%5Etfw”>#BitcoinOnly</a> 🚀 <a href=”https://t.co/sD8Jh1IhFN”>pic.twitter.com/sD8Jh1IhFN</a></p>&mdash; Andrés Villagrán 🌳⚡ (@avillagran) <a href=”https://twitter.com/avillagran/status/1895160942721200352?ref_src=twsrc%5Etfw”>February 27, 2025</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

The Texas lawmaking authorities maintain that Bitcoin possession would guard money reserves against inflationary pressures and economic instability. Meanwhile, Sen. Schwertner originally intended his proposal to address only Bitcoin but changed it to encompass additional digital assets in February.

What Does the SB-21 Bill Contain?

SB-21 provides an entire system for launching and controlling the Texas Strategic Bitcoin Reserve. The reserve achieves independent financial operation through its status as a separate fund beyond the state treasury, which provides investment flexibility. The Texas Bitcoin Reserve Bill encompasses contributions from legislative appropriations, dedicated revenues, purchased cryptocurrencies, investment earnings, and donor contributions. All purchased digital assets for the reserve must demonstrate an average market capitalization worth at least $500 billion over the past year to maintain focus on well-established cryptocurrencies.

The proposed bill grants the Texas Comptroller permission to operate in asset acquisition, selling, and managing assets within the reserve. Independent certified public accountants must conduct audits to ensure proper management as authorized by the bill, which also permits contracted administration of financial responsibilities with third parties. The advisory committee combines the comptroller with cryptocurrency investment specialists who will advise on asset assessment methods and investment strategies.

Other States Join Bitcoin Bandwagon With Bitcoin Reserves Proposals

Texas is among many other states considering establishing a Bitcoin reserve. In February, more than 20 states made legislative moves to dedicate funds from the public budget to Bitcoin and other digital currencies. The proposed initiatives would diversify state assets while protecting them from uncertain economic conditions. 

Oklahoma, Arizona, and Utah state governments have presented legislation to help spread their financial investments. The Bitcoin reserve legislation in Oklahoma continues moving forward through the House committee, obtaining approval before facing a next floor vote. 

Public funds that include pension systems received approval from Arizona’s Senate Finance Committee to hold up to 10% value in cryptocurrency investments. Utah state legislators have introduced measures that let their treasurer distribute digital assets from existing public funds up to a 5% maximum threshold.

Can Establishing a Bitcoin Reserve Hedge Against Inflation?

Despite the market’s current movements, the SB-21 supporters maintain that creating a bitcoin reserve is an inflation and economy stability protection mechanism. Texas State Senator Charles Schwertner explains in his bill introduction that bitcoin exhibits strong strategic value, boosting Texas’s financial stability. The proposed bill establishes that forming such a reserve fulfills the public function of bolstering the financial security of Texas residents.