YEREVAN (CoinChapter.com) — The Texas Senate passed SB-21, a bill creating a Bitcoin and cryptocurrency strategic reserve, in a 25-5 vote on March 6. Lawmakers debated the measure before approval, positioning Texas as a key player in state-level cryptocurrency policy. Texas State Senator Charles Schwertner introduced the bill, stating that Bitcoin could strengthen the state’s balance sheet. He described Bitcoin as a scarce asset, comparing it to gold instead of a competitor to the U.S. dollar as a global reserve currency.
Texas Expands Bitcoin Bill To Include Other Digital Assets
The original version of SB-21, introduced in January 2025, focused only on Bitcoin. However, lawmakers amended the bill in February 2025 to include other digital assets. The change followed U.S. President Donald Trump’s executive order on Jan. 23, which directed a commission to evaluate the feasibility of a digital asset stockpile.
With this update, Texas could expand its cryptocurrency holdings beyond Bitcoin, aligning with federal discussions on digital asset reserves.
Lawmakers Address Bitcoin’s Role in the Reserve
During discussions, some lawmakers raised concerns about Bitcoin challenging the U.S. dollar. Supporters responded by stating that Bitcoin’s function in the reserve would be similar to gold rather than replacing traditional currency. Senator Schwertner and other supporters argued that Bitcoin’s fixed supply could make it a reliable reserve asset. The bill does not mandate specific acquisition strategies but allows Texas to hold Bitcoin and other digital assets as part of its financial strategy.
Texas Strengthens Position on Cryptocurrency Legislation
Texas has previously introduced laws supporting Bitcoin mining rights and protecting digital asset businesses. The passage of SB-21 follows this pattern, reinforcing the state’s approach to integrating cryptocurrency into its financial framework. The bill’s approval in the Texas Senate moves it forward in the legislative process. Further steps will determine how the state will implement the Bitcoin and digital asset reserve.