TechFlow news, June 22 — According to The Block, Texas Governor Greg Abbott signed Senate Bill 21 (SB 21) on June 21, officially approving the creation of a statewide strategic Bitcoin reserve. This makes Texas the third U.S. state, after Arizona and New Hampshire, to establish such a reserve.
The bill, introduced by State Senator Charles Schwertner, will be managed by Texas Comptroller Glenn Hegar and will operate independently from the state’s general treasury. The Chair of the Texas Blockchain Council expects the state to allocate "tens of millions of dollars" toward Bitcoin purchases, though this amount is considered relatively modest for a state of Texas's size.
Governor Abbott also signed House Bill 4488 (HB 4488), ensuring the Bitcoin reserve is protected from the state treasury’s periodic fund sweeps and securing its legal standing.
