Texas Governor Greg Abbott has expressed support for Senate Bill 21 (SB 21), a newly passed legislative proposal that aims to establish a strategic Bitcoin reserve in the state. On May 22, Abbott posted a Techstory article to his official X (formerly Twitter) account, acknowledging the bill’s progress and signaling his likely approval as the final decision now rests with him.
Texas Moves to Establish Strategic Bitcoin Reserve: A New Era in State Finance.
— Greg Abbott (@GregAbbott_TX) May 23, 2025
via @techstoryin https://t.co/e5utsSzDfI
SB 21, which was introduced three months earlier, has made its way through the Texas House of Representatives and is now on the governor’s desk. If signed, the legislation would officially launch a state-managed Bitcoin reserve, with the objective of protecting public funds through diversified digital asset investment. Abbott’s endorsement is in line with his long-standing support for cryptocurrency. Since 2021, he has referred to himself as a
” crypto law proposal supporter,” and in 2024, he declared his intention to transform Texas into a “crypto capital”
Texas is not alone in its efforts. On May 6, New Hampshire Governor Kelly Ayotte became the first in the nation to sign a Bitcoin reserve bill into law. Following that, Arizona Governor Katie Hobbs approved a measure that allows the state to take ownership of unclaimed cryptocurrency. While several other states have rejected similar proposals, around half of the 50 U.S. state governments are actively considering legislation to create Bitcoin reserves.
At the national level, former U.S. President Donald Trump signed an executive order in March to establish a federal “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” However, as of May 23, Congress had not yet codified the order. In response, Wyoming Senator Cynthia Lummis has reintroduced the BITCOIN Act—short for Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide—which aims to formalize digital asset holdings at the federal level. The bill has been referred to the Senate Banking Committee, but its future remains uncertain as the Senate is expected to prioritize the GENIUS Act, legislation aimed at regulating payment stablecoins, with a vote anticipated by Memorial Day on May 26.
If Governor Abbott signs SB 21 into law, Texas will become one of the first U.S. states to formally integrate Bitcoin into its financial infrastructure, reinforcing its ambition to lead the country in digital innovation and blockchain adoption.
