Texas Senate Passes Bill to Invest $250M in Cryptocurrencies
Texas is at the forefront of cryptocurrency legislation. On March 11, 2025, Representatives Ron Reynolds and Mihaela Plesa introduced a bill, S.B. 21, aiming to establish a Strategic Bitcoin Reserve (SBR). The bill, which allows investment in bitcoin and other cryptocurrencies, recently passed the state Senate with a strong majority.
The bill, if enacted, would permit Texas' comptroller to invest up to $250 million from the Economic Stabilization Fund into cryptocurrencies. Additionally, municipalities or counties could invest up to $10 million of their funds into bitcoin and/or other cryptocurrencies. The bill is set to take effect on September 1, 2025.
Texas is the second most active state for bitcoin- and crypto-related bills, trailing only Arizona. Currently, there are eight active bitcoin- or crypto-related bills in Texas, with H.B. 4258 being the fifth to move to committee. Four of these bills, including H.B. 4258, authorize the state to put bitcoin on its balance sheet.
The recent passage of S.B. 21 in the state Senate signals Texas' growing interest in cryptocurrencies. If the bill becomes law, it could significantly impact Texas' financial landscape and potentially boost the state's involvement in the cryptocurrency market.
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