Texas Poised to Pass Bitcoin Reserve Legislation

Texas is on the brink of becoming the third state to set up a strategic Bitcoin reserve, according to Lee Bratcher, the founder and president of the Texas Blockchain Council.

Bratcher said that should the legislature pass the bill, he anticipates Governor Greg Abbott’s approval. On Wednesday, state lawmakers overwhelmingly passed Senate Bill 21, which proposes the creation of a Bitcoin reserve.

Bratcher cautiously conveyed his confidence about the governor’s decision, stating:

“I have personally discussed this with Governor Abbott, and I believe he wants Texas to lead in this industry,” he commented. “However, the final choice is his.”

If Abbott signs it, the bill, expected to reach his desk within a “week or two,” would secure Texas’ position as the third state to adopt such a reserve, following New Hampshire and Arizona. In March, President Trump ordered the creation of a “Strategic Bitcoin Reserve.”