Texas Becomes First U.S. State to Launch a Public Bitcoin Reserve

Texas has become the first U.S. state to adopt Bitcoin as a strategic reserve asset, following a $10 million public funding allocation. The move was formalized after Governor Greg Abbott signed Senate Bill 21 (SB 21) into law over the weekend, according to a report by Coindesk.

The reserve will operate independently from the state’s main treasury and will be managed by the Texas Comptroller of Public Accounts, with support from a three-member advisory board of digital asset experts.

Under the legislation, only cryptocurrencies with a market capitalization exceeding $500 billion over the past 12 months are eligible for inclusion. Currently, Bitcoin is the only asset meeting this threshold.

The reserve can be financed through direct purchases, forks, airdrops, public donations, or investment profits. Its performance will be reported to the public every two years.

Separately, Governor Abbott also signed House Bill 4488, which prevents the Bitcoin reserve from being integrated into the general revenue fund, thereby maintaining its independence and strategic purpose.