Bitcoin will become part of the strategic reserve of Texas

The Texas State Senate has passed a bill that will allow investing part of the budget in bitcoin. The document must now be approved by the Texas House of Representatives and signed by the governor. The draft law was presented in December 2024. Initially, it was not planned to use taxpayer funds, such as fees and taxes, to buy bitcoins. It was assumed that the reserve fund would be formed by voluntary donations.

In February 2025, an updated version of the bill appeared and was unanimously approved by the Texas Senate Business and Commerce Committee. It envisaged the creation of the first US strategic reserve in bitcoin at the state level, in particular, through tax payments.

Yesterday, March 6, the bill on the strategic reserve was passed by a majority vote at a meeting of the Texas Senate: 25 in favor and 5 against. To come into force, the document must also receive two-thirds of the votes in the Texas House of Representatives, after which it will be sent to the governor for signature.

Earlier, the Public Utility Commission of Texas (PUCT) approved a rule requiring miners connected to the Electric Reliability Council of Texas (ERCOT) grid to register all their mining rigs.