Texas State Senator Charles Schwertner co-sponsored SB 21 in Texas, creating a Strategic Bitcoin Reserve. Texas now holds $10 million worth of Bitcoin. (Photo by Montinique Monroe/Getty Images)
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Texas has added another $5 million in bitcoin to its Strategic Bitcoin Reserve under Senate Bill 21. The purchase brings the state’s total bitcoin holdings to $10 million. The makes Texas the only U.S. state to purchase, as well as hold, bitcoin on its balance sheet.
SB 21, authored by Rep. Giovanni Capriglione and sponsored in the Senate by Sen. Charles Schwertner, formally established a bitcoin reserve within the texas treasury and created a legal framework for how state entities may hold, manage, and secure digital assets.
Lt. Gov. Dan Patrick stated in a press release regarding SB 21, “Creating the Texas Bitcoin Reserve is a bold step for other states to follow.”
The bill, which was signed into law in June 2025, authorizes the state to acquire, custody, and manage bitcoin under defined risk controls.
Texas Rep. on $10 Million Bitcoin Buy ‘Texas Isn’t Waiting on the Future, We’re Building It’
The Strategic Bitcoin Reserve emphasizes Texas’ view of bitcoin as a legitimate reserve asset alongside cash, bonds, and gold within the state’s treasury framework.
Instead of relying on a small pilot program, the legislation brings bitcoin directly into Texas’ existing capital structure. It sets clear rules for custody, reporting, and oversight, while keeping the focus narrowly on bitcoin rather than a wider mix of more volatile digital assets.
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Rep. Capriglione said in a direct statement, “I’m excited to see Acting Comptroller Kelly Hancock and the Texas State Treasury moving quickly to implement the vision laid out in SB 21 passed by Chairman Schwertner and I last session.” He said, “By acting now, the state is demonstrating exactly the kind of forward thinking stewardship taxpayers expect. This proactive approach positions Texas to capture long term value and reinforces our leadership in innovative, responsible investment policy. Texas isn’t waiting on the future, we’re building it.”
Senator Backs Bitcoin Buy as ‘Wise’ Move
Texas’ move stands apart from other states experimenting with crypto policy. While some states have explored accepting cryptocurrency payments or investing pension funds indirectly, Texas is explicitly buying and holding bitcoin on its balance sheet.
Sen. Schwertner, who has long been an advocate of Bitcoin, said in a direct statement, “In the age of profligate spending, deficits, and debt, it is wise to invest in alternative investments. Texas has done just that with the establishment of a sovereign state-funded Strategic Bitcoin Reserve.”
The timing is notable for Texas. Bitcoin reached new highs earlier in 2025 before pulling back to lower levels, coinciding with the state’s second IBIT purchase. The most recent acquisition was executed at a bitcoin price of $86,937.30, confirmed by the Texas Comptroller’s office in a statement.
Texas continues to position itself as a global hub for bitcoin mining, hosting a significant share of global hash rate. The state’s deep ties to energy production and grid-scale infrastructure have created a feedback loop between bitcoin mining, power markets, and economic development.
Holding bitcoin on the balance sheet further aligns Texas’ fiscal strategy with an industry already embedded in its economy.
The legislation defines clear guardrails around the program and positions the bitcoin reserve as a complementary component of the state’s broader treasury holdings.
Texas Expansion Shows No Signs of Slowing
The second $5 million IBIT purchase comes as innovation and capital continue to accelerate across Texas.
Over the past two years, the Lone Star State has become a substantial hub for artificial intelligence, digital assets, and large-scale infrastructure, supported by regulatory clarity and abundant energy.
Google’s $40 billion AI data center investment in West Texas, along with Coinbase’s move to reincorporate in the state and Crypto.com’s North American headquarters in Dallas, point to a broader shift in where technology companies are choosing to grow.
With capital markets expanding, the state’s growing bitcoin reserve reflects alignment with its evolving economic base.
Texas Is Officially Bitcoin Country
Texas’ $10 million bitcoin allocation is modest in absolute terms, but its symbolic significance is considerable. NBC previously reported that the total allocation represents approximately 0.0004% of the state’s overall budget.
As federal regulators continue to debate digital assets, Texas is moving ahead with policy, capital, and institutional execution. With this latest purchase, the state signals a clear intention.
Bitcoin is no longer just produced in Texas. It is now embedded in its treasury strategy.