A Reserve which will be managed by the state comptroller and focused solely on digital assets with a market cap of at least $500B.
Which, for now, basically just means Bitcoin. The vote came in at 101-42. Now it’s up to Governor Greg Abbott to sign or veto it – and odds are he’ll sign.
Abbott’s been pro-crypto for a while and has pushed to bring digital assets into Texas’ financial and regulatory systems. As Rep. Giovanni Capriglione put it:
“Now we embrace a modern asset, with traditional properties for future promise. This reserve not only strengthens our physical sovereignty but positions Texas as a forward-thinking state.”
And Texas isn’t alone – 30 other states have also introduced Strategic Bitcoin Reserve bills.
