On May 18, according to SAF co-founder Dennis Porter, the Texas Strategic Bitcoin Reserve Bill (SB 21) will undergo its second reading in the House on May 20, which is a necessary step before the final vote. If the bill passes the full House vote before the Texas Legislature adjourns on June 2, it will be submitted to the governor for signature.
On March 6, 2025, the Texas Senate passed SB 21 with 25 votes in favor and 5 votes against, and the bill subsequently entered the House for review. On May 8, 2025, the SB 21 bill passed the House committee review without modifications and was advanced to the full House vote stage.
The SB 21 bill aims to establish a Texas Strategic Bitcoin Reserve, investing in Bitcoin and other cryptocurrencies. The reserve fund will be composed of legislative appropriations, dedicated revenues, purchased cryptocurrencies, investment returns, and donations, and will employ security measures such as cold storage. The bill mentions establishing an advisory committee to provide investment strategy guidance and requires the publication of transparent reserve reports every two years.
