- Texas is advancing Senate Bill 778 to establish a state-held Bitcoin reserve, positioning itself as a leader in digital finance.
- The bill has gained support from key lawmakers and could strengthen Texas’ economy, influencing other states to explore Bitcoin reserves.
- The move aligns with growing interest in government-held Bitcoin, with federal discussions and influential figures advocating similar strategies.
Texas has taken a significant step toward incorporating Bitcoin into its financial strategy with the referral of a Bitcoin Reserve bill to the Senate’s Finance Committee. The proposed legislation, which has gained traction among lawmakers, aims to establish Bitcoin as a state-held asset. This initiative is part of a broader movement across multiple U.S. states exploring cryptocurrency as a reserve asset to bolster economic stability and growth.
Senate Bill 778, introduced in December 2024, seeks to create a Bitcoin reserve distinct from the state’s general revenue fund. The bill outlines provisions for acquiring Bitcoin, making additional purchases, and even allowing Texas residents to contribute to the reserve.
State officials backing the initiative argue that it positions Texas at the forefront of digital finance, reinforcing its economic standing in both national and global markets.
Legislative Support and Broader Implications
Legislators from Texas support the Bitcoin Reserve bill as State Senator Charles Schwertner introduced its most recent version in January 2025. Schwertner supports this legislation because it helps Texas achieve its position as a digital asset frontrunner. The Texas legislature demonstrates its desire to merge Bitcoin into economic infrastructure through his support which simultaneously aims to build financial protection against global marketplace shifts.
The Texas House of Representatives through State Representative Giovanni Capriglione participated in developing pro-Bitcoin legislation. The previous Bitcoin tax payment legislation from Representative Capriglione would establish a framework for Texas to develop its cryptocurrency reserve.
These proposed policies will support Texas in dominating the digital economy space while creating an example that other states can follow when enacting similar digital economic approaches.
The state of Texas stands among multiple states that are attempting to establish Bitcoin reserves. Numerous other U.S. states currently draft legislation to introduce Bitcoin along with other crypto assets into their statewide financial management systems. Several state legislative initiatives concerning digital assets continue advancing through committee stages because lawmakers from both parties are now exploring digital assets for state financial planning.
Economic Influence and the Role of Bitcoin
The state economy of Texas stands among the strongest economic forces in the United States. When viewed separately from its national neighbors Bitcoin’s economic system would hold the position of eighth largest worldwide. With an annual revenue exceeding $250 billion, Texas holds significant financial influence. The addition of a Bitcoin reserve could further enhance the state’s economic standing and establish it as a leader in digital finance.
When Texas implements Bitcoin as its official reserve asset it will produce consequences that stretch outside state boundaries. The economists predict that Texas adopting Bitcoin for its reserves might prompt other regions to evaluate shifting toward digital currencies as well. Federal political circles currently examine Bitcoin’s potential role in national financial policies.
Bitcoin ownership by government bodies has recently become a topic of interest that extends past state administration circles. David Marcus who served as a previous Meta executive now recommends the U.S. government should replace parts of its gold store with Bitcoin. U.S. Senator Cynthia Lummis continuously supports the creation of a national Bitcoin reserve.
