Texas is making significant strides in integrating Bitcoin into its financial framework with the introduction of a second crypto reserve bill. The proposed legislation, HB 4258, aims to allocate up to $250 million from the state’s economic stabilization fund for Bitcoin and other digital assets. This follows a previous attempt with SB 778, which recently gained bipartisan support in the Senate.
Unlike the previous proposal, HB 4258 sets a cap on investments and allows municipalities and counties to allocate up to $10 million to digital assets. If approved and signed into law, the bill would come into effect on September 1, 2025.
The move by Texas to establish a Bitcoin reserve is part of a larger trend in the US, with 21 states exploring similar frameworks at various legislative stages. Some states are actively proposing legislation, while others are still in the evaluation phase.
Lee Bratcher, President of the Texas Blockchain Council, highlighted the state’s strategic position for Bitcoin adoption. He pointed to the Texas Triangle—Houston (energy), Austin (tech), and Dallas (capital markets)—as a convergence of industries that makes Bitcoin integration particularly viable.
The first Bitcoin bill in Texas, SB 778, focuses on allowing tax payments and donations in digital assets and imposing a five-year restriction on selling state-owned Bitcoin. With Senate approval secured, the bill now awaits a decision in the Texas House by May 24.
Texas Lieutenant Governor Dan Patrick has expressed strong support for the initiative, calling the establishment of a Bitcoin reserve a strategic move that could set an example for other states. He emphasized Bitcoin’s decentralized nature and finite supply, describing it as a valuable asset for Texas’ financial future.
Patrick also referenced President Trump’s vision to make the United States the cryptocurrency capital of the world, noting that Texas is leading the way in embracing Bitcoin and digital assets.
Overall, Texas’ efforts to integrate Bitcoin into its financial system reflect a broader trend across the US, with states recognizing the potential benefits of digital assets and taking steps to incorporate them into their economic frameworks.