Texas Goes Full Hodl: State Legislature Passes Bitcoin Reserve Bill—Now Awaits Abbott’s Nod

Texas lawmakers just doubled down on crypto—passing a bill that could make Bitcoin part of the state’s treasury reserves. One signature away from reality, and Governor Greg Abbott’s pen holds the power.

The Lone Star Pivot

No more waiting for Wall Street’s blessing. If signed, the bill lets Texas bypass traditional reserves—gold, bonds, yawn—and allocate funds to Bitcoin. Because why trust the Fed when you can trust math?

The Fine Print (Minus the Finance Jargon)

No dollar figures yet, but the precedent’s the punchline: a U.S. state treating Bitcoin like a strategic asset. Take that, goldbugs.

Cynical Finance Jab of the Day

Because nothing says ‘stable store of value’ like an asset that can swing 20% before your avocado toast arrives.

Texas Might Have a Bitcoin Reserve by June 2

Just yesterday, Texas’ state legislature overwhelmingly voted to approve a state-level Bitcoin Reserve. This follows months of preparation, representing a continued level of enthusiasm. Pro-industry observers believed that the final vote could take place as soon as today, and it looks like this Optimism has been vindicated:

“Texas passes Strategic Bitcoin Reserve Bill. SB 21 passes third reading by a vote of 101-42 and now heads to the Governor’s desk for signature,” a crypto policy watchdog claimed. Observers also noted that the vote took place very quickly.

Assuming that Governor Greg Abbot signs the bill, then Texas will follow New Hampshire to be the second US state with its own bitcoin Reserve. Like New Hampshire’s measure, SB 21 could also allow assets other than Bitcoin to enter the reserve. A token will need to maintain a market cap of $500 billion for 24 months, and then it will be eligible.

Pro-crypto regulation efforts are still strong, as evidenced by the GENIUS Act’s unlikely success this week. If other Bitcoin Reserve proposals learn from Texas’ example, the movement could see more successes in the NEAR future.