🌎 Texas to Create Bitcoin Reserve as Part of Financial Strategy

Texas Lieutenant Governor Dan Patrick has announced plans to establish a Texas Bitcoin Reserve as part of his top legislative priorities for the 2025 session. This proposal underscores the state’s ongoing push to integrate Bitcoin into its financial strategy and reinforce its status as a blockchain-friendly state.

Background and Legislative Priorities

Patrick’s announcement highlights the state’s efforts to solidify its position in the cryptocurrency space. “Over the last four years, the Texas Senate held the line, fighting back against President Biden’s disastrous agenda,” Patrick said. “Now, with President Trump back in office, Texas has a friend in the White House.”

Regulatory Challenges and Ongoing Tensions

Texas has seen tensions between crypto miners and the government, highlighted by a recent lawsuit from a mining firm, Lejilex, against the SEC over crypto regulation and token classification. In February 2024, the Texas Blockchain Council and Riot Platforms sued the U.S. Department of Energy, the EIA, and the OMB, challenging the emergency data collection on crypto mining energy use.

Arizona’s Bitcoin Reserve Bill

Texas is not alone in its efforts. In Arizona, the Senate Finance Committee recently approved SB1025, also known as the “Arizona Strategic Bitcoin Reserve Act.” The bill, co-sponsored by State Senator Wendy Rogers and Representative Jeff Weninger, would allow the state to invest up to 10% of its public funds—including state treasury and retirement system reserves—in Bitcoin and other digital assets.

Key Takeaways

• If passed, Arizona would join Texas in positioning Bitcoin as a strategic financial asset at the state level.

• These moves reflect a growing trend among U.S. states looking to integrate cryptocurrency into their financial frameworks.

• The proposed bills in Texas and Arizona demonstrate a shift towards greater acceptance and adoption of blockchain technology and digital assets in the financial sector.