Signed by Governor Greg Abbott

Vote Smart's Synopsis:

Vote to adopt a conference report and pass a bill that establishes the Texas Strategic Bitcoin Reserve to invest in cryptocurrency and the authority of the comptroller of public accounts over the reserve in Texas, effective immediately or September 1, 2025.

Highlights:

• Establishes the Texas Strategic Bitcoin Reserve to invest in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve in Texas (Sec. 2-4).

• Requires the currency invested in with state funds to have a market capitalization of at least $500 billion over a 12-month period, essentially the value of the mined coins and specifies that currently, only Bitcoin has a market cap above that number (Sec. 2-4).

• Establishes a 5-person advisory committee to offer advice on managing the crypto reserve (Sec. 2-4).

• Specifies that the provisions of this bill shall become effective immediately after September 1, 2025 (Sec. 5).

Full Bill Text

Vote Smart's Synopsis:

Vote to adopt a conference report and pass a bill that establishes the Texas Strategic Bitcoin Reserve to invest in cryptocurrency and the authority of the comptroller of public accounts over the reserve in Texas, effective immediately or September 1, 2025.

Highlights:

• Establishes the Texas Strategic Bitcoin Reserve to invest in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve in Texas (Sec. 2-4).

• Requires the currency invested in with state funds to have a market capitalization of at least $500 billion over a 12-month period, essentially the value of the mined coins and specifies that currently, only Bitcoin has a market cap above that number (Sec. 2-4).

• Establishes a 5-person advisory committee to offer advice on managing the crypto reserve (Sec. 2-4).

• Specifies that the provisions of this bill shall become effective immediately after September 1, 2025 (Sec. 5).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes the Texas Strategic Bitcoin Reserve to invest in cryptocurrency and the authority of the comptroller of public accounts over the reserve in Texas, effective immediately or September 1, 2025.

Highlights:

• Establishes the Texas Strategic Bitcoin Reserve to invest in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve in Texas (Sec. 2-4).

• Requires the currency invested in with state funds to have a market capitalization of at least $500 billion over a 12-month period, essentially the value of the mined coins and specifies that currently, only Bitcoin has a market cap above that number (Sec. 2-4).

• Establishes a 5-person advisory committee to offer advice on managing the crypto reserve (Sec. 2-4).

• Specifies that the provisions of this bill shall become effective immediately after September 1, 2025 (Sec. 5).

Full Bill Text