Texas Just Fell in Love With Bitcoin and You Won’t Believe What Happens Next

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May 7 began like any other Tuesday in Texas: hot, endlessly optimistic, and with more government committees than functioning air conditioners. But somewhere between remembering where they’d parked and wondering if “efficiency” is a word, the House Committee on Delivery of Government Efficiency passed Senate Bill 21 (SB 21) with a 9-4 vote. In Texas, “along party lines” is just code for “We fought, nobody bled, onward.” Now, the bill tiptoes toward the full House for its final test in the gladiator arena of state politics.

The bill previously cleared the Texas Senate with a 25-5 vote on March 6.

If the stars align—meaning things pass and the governor doesn’t veto the whole state for fun—SB 21 will bestow upon Texas the fabled Texas Strategic Bitcoin Reserve. This will be run by State Comptroller Glenn Hegar, who probably didn’t think “Bitcoin czar” would ever be on his LinkedIn profile (surprise, Glenn! 🎩). Only Bitcoin (BTC) qualifies, since apparently none of the Doge memes have cracked $500 billion in the past year. Sorry to that one guy still holding XRP.

Aligning With Broader State-Level Bitcoin Adoption

Texas wants to be the third state with a formal Bitcoin reserve, joining New Hampshire (which probably fits its BTC in a cozy flannel) and Arizona (where the Bitcoin is presumably just trying to keep cool). Suddenly, state governments are tripping over themselves to invest in digital gold as if it’ll stop them from mailing out potholes with tax refunds. Is it an investment strategy, a hedge, or just a really elaborate way for someone to finally use the word “blockchain” in a state law? Yes.

Bill supporters gush that this will make Texas as innovative as a tech startup, but with even more belt buckles. It’s all about “financial resilience,” or at least being able to say, “Yes, we have Bitcoin,” at state treasurer parties. The final, thrilling—possibly nap-inducing—vote awaits in the Texas House. If it passes, “Don’t Mess with Texas” may soon include, “unless you accept Ethereum.” 🚀

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2025-05-08 09:30