Texas Lieutenant Governor calls consideration of a bill to create a BTC reserve a priority

What’s new? Texas Lieutenant Governor Dan Patrick has unveiled a list of priority bills to be considered during the 2025 legislative session. Among others, number 21 on the list is a bill to create a bitcoin reserve fund in the state. Patrick noted that the bills on the list reflect the will of the conservative majority of Texans, and many of them will pass with bipartisan support.

Press release

What else is known? “Over the last four years, the Texas Senate held the line, fighting back against President Biden’s disastrous agenda. Now, with President Trump back in office, Texas has a friend in the White House.

The Texas Senate will continue to lead as the preeminent legislative body in America by passing our bold, conservative agenda, helping President Trump deliver on his promise of making America great again,” Patrick said.

Texas joins at least five other US states where legislatures are working to create crypto reserves, including Arizona, Utah, Illinois, Indiana, and Ohio.

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Texas lawmakers have attempted to create a BTC reserve twice before. In December 2024, Republican Representative Giovanni Capriglione introduced a bill in the state House of Representatives that would allow citizens to pay taxes and other fees in bitcoins, which could then be used to create a reserve.

In January, Sen. Charles Schwertner said the bitcoin reserve would “would position [the] state at the forefront of the digital economy, driving growth and securing economic freedom for our great state.”

Texas is the largest state in the United States and the eighth-largest economy in the world. Its revenue from taxes and fees exceeds $250 billion per year.

Texas also has a high concentration of bitcoin miners who chose the state because of its cheap, affordable, and renewable electricity, as well as a cryptocurrency-friendly regulatory environment.

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Donald Trump promised to create a national bitcoin strategic reserve during his campaign, and Wyoming Senator Cynthia Lummis, who now chairs the subcommittee on digital assets of the Federal Senate Banking Committee, introduced a bill to that effect.

After his inauguration, Trump issued an executive order recognizing cryptocurrency as a national priority, where, among other things, he directed a working group to study the possibility of creating a BTC reserve.

The crypto community, however, was not fully satisfied with the text of the decree, as it suggests creating a reserve from coins previously confiscated from criminals by law enforcers, rather than buying new assets. At the same time, the Lummis bill envisages the purchase of 1 million BTC within five years.