Texas Awaits Governor’s Nod for Bitcoin Reserve Bill – Coincu

Governor Greg Abbott has expressed his support for SB 21, a bill proposing a strategic Bitcoin reserve for Texas, presently awaiting his signature after passing the State House on May 21, 2025.

Texas Advocates Bitcoin Reserve to Boost State’s Digital Economy

Governor Greg Abbott has expressed support for a bill to create a strategic Bitcoin reserve in Texas. The bill, SB 21, passed the Texas House of Representatives and awaits Abbott’s signature. As a longtime cryptocurrency advocate, Abbott aims to position Texas as a “crypto capital”. The reserve would use surplus General Revenue to purchase Bitcoin, subject to strict management criteria. The Strategic Bitcoin Reserve could not purchase any other cryptocurrency due to a $500 billion market cap requirement the bill specifies. This initiative signifies Texas’s push toward legitimizing Bitcoin at the state level, potentially influencing other states. Community reactions on platforms like X lean positive, with Abbott’s actions seen as a possible precedent for broader adoption.

Bitcoin’s Current Market Dynamics and Expert Insights

Bitcoin’s market cap stands at $2.15 trillion, dominating 63.09% of the market. Currently priced at $108,138.86, its value has seen a 4.77% rise over the past week. Market data from CoinMarketCap reflects a robust trading volume of $67.04 billion, sustaining BTC’s position as the first asset meeting the bill’s criteria. According to the Coincu research team, Texas’s decision will likely encourage other states to consider similar reserves, marking a shift toward broader institutional Bitcoin adoption. Once enacted, SB 21 could potentially affect market dynamics, especially with Governor Abbott’s active crypto engagement.

Community reactions on platforms like X lean positive, with Abbott’s actions seen as a possible precedent for broader adoption.

Market Data and Future Implications

Did you know? New Hampshire led the way in May 2025 as the first US state to legalize a Bitcoin reserve, paving the path for others.

Bitcoin’s market cap stands at $2.15 trillion, dominating 63.09% of the market. Currently priced at $108,138.86, its value has seen a 4.77% rise over the past week. Market data from CoinMarketCap reflects a robust trading volume of $67.04 billion, sustaining BTC’s position as the first asset meeting the bill’s criteria.

According to the Coincu research team, Texas’s decision will likely encourage other states to consider similar reserves, marking a shift toward broader institutional Bitcoin adoption. Once enacted, SB 21 could potentially affect market dynamics, especially with Governor Abbott’s active crypto engagement.