Texas Governor “Supports Bitcoin Strategic Reserve”…State Government Level Digital Asset Holding Intensifies

Greg Abbott, the governor of Texas, USA, has officially supported the state's Bitcoin (BTC) strategic reserve holdings, accelerating digital asset policy. On the 22nd (local time), Governor Abbott expressed a positive stance on the SB 21 bill, which passed the Texas Senate and House, stating that "creating a Bitcoin reserve is a strategic decision" through his X account. The bill currently awaits only the governor's signature.

The SB 21 bill contains provisions allowing the state of Texas to hold Bitcoin like a national reserve asset. It establishes a legal basis for the state government to treat digital assets as tangible assets or foreign exchange reserves and pursue a long-term holding strategy.

Governor Abbott has been a supporter of digital asset legislation since 2021, continuously expressing his intention to develop Texas as the ‘capital of digital assets.’ He is particularly noted as one of the few state governments to have officially discussed strategic Bitcoin holdings after the 2024 federal election.

The first state government in the U.S. to pass a Bitcoin reserve bill was New Hampshire, completing the governor's signature on May 6. Arizona has also adopted and implemented a crypto asset bill with similar content. However, more than half of all U.S. states have yet to take a clear stance on holding digital assets.

At the federal level, President Donald Trump signed the ‘Strategic Bitcoin Reserve’ executive order in March but congressional legislation has not yet proceeded. Republican Senator Cynthia Lummis reintroduced the ‘BITCOIN Act’ containing related content, but the schedule for a plenary vote has not been confirmed.

With the state-level movement gaining momentum, there is a possibility that the focus of digital asset policy in the U.S. will expand to local governments. The perspective of viewing Bitcoin as a ‘national strategic asset’ rather than a simple investment asset is gradually becoming a reality within institutional settings.