Texas lawmakers have advanced a bill that would enable public funds to be invested in Bitcoin, setting up a crucial vote in the state’s House by May 24. The proposal, which passed the Senate with a 25-2 vote on March 6, marks a significant step in the growing state-level movement toward Bitcoin adoption in the U.S.
State-Level Bitcoin Adoption Gains Momentum
The bill’s advancement highlights how U.S. states may successfully front-run federal authorities on Bitcoin reserve policies. According to Dennis Porter, founder of the Satoshi Act Fund, the Texas House could accelerate the process and send the bill to the governor’s desk in the near future.
More than two dozen states are currently debating legislation that would allocate taxpayer funds toward Bitcoin investments. Texas, the second-largest state economy with a $2.6 trillion GDP, and Utah are seen as leading contenders to pass such measures into law. This growing trend is fueled by increased crypto lobbying efforts and the return of Donald Trump as U.S. president.
Bitcoin Bill’s Impact on National Crypto Policy
The Texas Bitcoin bill comes just ahead of the White House Crypto Summit on March 7, where industry leaders and key policymakers are expected to discuss the role of Bitcoin in the national economy. Speculation is rising that President Trump will unveil a federal Bitcoin strategy at the event.
David Sacks, White House AI and Crypto Czar, has criticized the U.S. government’s previous Bitcoin handling, noting that the country sold 195,000 BTC for $336 million over 12 years—missing out on nearly $17 billion in potential profits. In response, Trump has reportedly tasked the White House crypto working group with formulating a national Bitcoin reserve policy.
The Future of a U.S. Bitcoin Reserve
Howard Lutnick, U.S. Commerce Secretary and former Cantor Fitzgerald CEO, emphasized Trump’s strong interest in establishing a Bitcoin reserve. However, questions have emerged over whether the reserve would include altcoins such as XRP, Solana, and Cardano. While Trump has suggested their inclusion, Lutnick clarified that Bitcoin will likely take center stage, with altcoins “treated differently” but still acknowledged positively.
As Texas moves closer to a legislative decision, its Bitcoin bill could serve as a blueprint for other states and further accelerate the push for broader governmental adoption of digital assets. With state initiatives moving ahead of federal regulation, the outcome of Texas’ vote could shape the trajectory of Bitcoin’s role in public finance across the country.
