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Texas Lieutenant Governor Dan Patrick revealed that establishing a Bitcoin reserve in the state will be among 2025’s legislative priorities.
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Texas Lieutenant Governor Dan Patrick announced the state’s 2025 legislative priorities on Jan. 29, and they included a proposal to establish a Texas Bitcoin Reserve.
Texas joins at least five other states in the US where legislatures are working on establishing Bitcoin (BTC) or crypto reserves, including Arizona and Utah, where strategic reserve bills have advanced out of committee.
Two public officials in Texas have introduced legislation to create a Bitcoin reserve in the Lone Star State. The most recent effort came from state Senator Charles Schwertner on Jan. 16. He noted on X that a Texas Bitcoin reserve “would position [the] state at the forefront of the digital economy, driving growth and securing economic freedom for our great state.”
Source: Charles Schwertner
Earlier, in December 2024, Texas Republican state Representative Giovanni Capriglione introduced legislation in the state’s House of Representatives for the creation of a Texas strategic Bitcoin reserve. The legislation would allow fees, taxes, and contributions to be paid in BTC, which could then be used to help create the reserve.
Related: BTC price whipsaws to $106K as US strategic reserve rumors return
Bitcoin supporters claim such reserves represent a modernization of traditional financial systems, offering inflation hedge and a signal of progress. Some countries, like Chile and the United States, are reportedly considering establishing cryptocurrency reserves.
US President Donald Trump campaigned on the promise of creating a national strategic Bitcoin reserve, and Wyoming Senator Cynthia Lummis has introduced the BITCOIN Act, which would establish such a reserve.
Related: Senator Lummis chosen to chair Senate Subcommittee on Digital Assets
Texas is the largest state in the US. If it were a sovereign nation, the state would have the 8th-largest economy in the world. According to the Texas comptroller, the state takes in over $250 billion a year in revenue from taxes, fees and assessments.
Notably, Texas has a high concentration of Bitcoin miners who have moved to the state due to its cheap and available power, renewable energy sources, and crypto-positive regulatory environment.
Related: Bitcoin mining saved Texas $18B, boosted grid stability
This article first appeared at Cointelegraph.com News
