Texas Pioneers US First State-Backed Bitcoin Reserve
Texas has officially become the first U.S. state to establish a publicly funded Bitcoin reserve, setting a new precedent in state-level crypto adoption.
Governor Greg Abbott signed the landmark legislation into law over the weekend, approving a $10 million allocation for the purchase of Bitcoin. While the amount represents just a fraction of the state’s total budget—approximately 0.0004%—it marks a significant commitment to embracing digital assets as part of Texas’s financial infrastructure.
Unlike previous legislative efforts in states like Arizona and New Hampshire, which authorised Bitcoin reserves without funding them, Texas has moved beyond symbolic gestures.
The newly approved Bitcoin holdings will be managed separately from the state’s primary treasury, signalling a strategic diversification into decentralised assets. Lee Bratcher, president of the Texas Blockchain Council, commented that this move sends a strong signal about the state’s willingness to take a leadership role in shaping the future of finance.
The bill, known as SB 21, passed through the Texas House with overwhelming support—105 votes in favour and just 23 opposed—before receiving the governor’s signature.
State Senator Charles Schwertner and Representative Giovanni Capriglione championed it, describing it as a forward-looking strategy designed to legitimise digital assets as more than a passing trend. Supporters of the bill believe it positions Texas to benefit economically while signalling openness to innovation in the financial sector.
