Texas is one step closer to launching a government-backed Bitcoin reserve. On May 20, lawmakers advanced Senate Bill 21 (SB 21) with a decisive 105–23 vote during its second House reading.
Rare bipartisan support drove the bill forward. It now moves to a final reading, where passage would send it directly to the Governor’s desk.
If enacted, Texas would create a Strategic Bitcoin Reserve (SBR), making it one of the first U.S. states to hold Bitcoin as a state asset.
The move carries national and global implications. Texas holds the title of eighth-largest economy in the world, with a GDP of $2.6 trillion—surpassing countries like Canada and Australia.
Introducing BTC into a public reserve at that scale would legitimize digital assets in U.S. public finance and signal a new chapter for crypto in government.
While the crypto industry has seen growing interest at the city and institutional level, Texas could soon set a precedent for state-level Bitcoin exposure.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/texas-nears-approval-for-state-backed-bitcoin-reserve/