Texas Advances Bitcoin Reserve Bill

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Texas is poised to become the third state to establish a strategic Bitcoin reserve, according to Lee Bratcher, founder and president of the Texas Blockchain Council.

If the bill clears the state legislature, he anticipates Governor Greg Abbott will sign it into law. On Wednesday, Texas lawmakers overwhelmingly passed Senate Bill 21, paving the way for a Bitcoin reserve.

Bratcher expressed cautious optimism regarding Governor Abbott’s decision. “I’ve personally discussed this with the governor, and I believe he wants Texas to lead in this area,” Bratcher said. “But I won’t speak for him; he will determine the timing.”

If Abbott signs the bill, which Bratcher expects to reach the governor’s desk within a “week or two,” Texas would follow New Hampshire and Arizona as the third state to adopt such a measure. In March, President Donald Trump issued an executive order to create a “Strategic Bitcoin Reserve.”