Texas Proposes State-Level Bitcoin Reserve in 2025 Legislative Session
Texas is advancing towards establishing a state-level Bitcoin reserve, as announced by Lieutenant Governor Dan Patrick. This initiative is part of the legislative priorities for the 89th regular session in 2025, with Senate Bill 21 leading the charge.
The key components of the Texas Bitcoin Reserve include:
- Direct holding of Bitcoin as an asset separate from the general revenue fund
- Allocation of funds for further Bitcoin purchases
- Enabling residents to donate Bitcoin to the reserve
Other states like Pennsylvania, Ohio, Florida, and Wyoming are also pursuing similar initiatives. Notably:
- Pennsylvania proposed the Bitcoin Strategic Reserve Act, allowing up to 10% of its funds to be invested in Bitcoin
- Ohio introduced the Ohio Bitcoin Reserve Act, granting the State Treasurer authority to purchase Bitcoin
- Florida is expected to launch its strategic Bitcoin reserve in early 2025, supported by key legislators
- Wyoming has proposed a more conservative approach, allowing only 3% of its public fund for Bitcoin investment
Patrick's push is seen as a move towards financial independence, highlighting Bitcoin's potential as a hedge against inflation and government overreach. The initiative aligns with a broader trend among states seeking exposure to digital assets, positioning Texas as a leader in this evolving landscape.