Texas Introduces Second Bitcoin Reserve Bill to Authorize Investments of Up to $250 Million
Date: 2025-03-12 Author: Oliver Abernathy Categories: IN WORLD
On March 11, 2025, a new bill, HB 4258, was posted on the Texas government website to establish a Bitcoin Reserve. The bill is the second such proposal in the state, following Senate Bill 778, which is currently pending in the House after passing the Senate.
Unlike the first bill, HB 4258 would authorize the Texas comptroller, which is the state’s chief financial and accounting watchdog, to invest up to $250 million from the state’s economic stabilization fund in Bitcoin or other cryptocurrencies.
In addition, the bill would also allow municipalities and counties to invest in Bitcoin or other cryptocurrencies, but the amount allocated for these purposes cannot exceed $10 million.
Recall that the first bill, SB 778, did not specify the exact amount that the state could invest in bitcoin or cryptocurrencies. However, it did stipulate that the state would begin accepting taxes and donations in cryptocurrency. It also imposed a minimum five-year moratorium on the sale of state-issued bitcoins.
Earlier this month, the Texas Senate approved a proposal to invest state funds in bitcoin with a 25-2 vote. Now the state House of Representatives will consider the bill and decide whether to approve or reject it by May 24. According to Satoshi Act Fund founder Dennis Porter, members of the House may speed up the process and the proposal will be sent to the governor in the near future.
According to Bitcoin Reserve Monitor, at least 21 US states are considering the possibility of creating cryptocurrency strategic reserves. Legislative processes are at various stages in 19 states, two states are still evaluating proposals, and five states have already rejected such initiatives.
