Texas governor signals support for Bitcoin reserve bill

The governor posted to his official X account on May 22, roughly a day after the legislature passed a bill to create a strategic Bitcoin reserve in Texas.

Texas Governor Greg Abbott has signaled support for a bill recently passed by the state House of Representatives that would establish a strategic cryptocurrency reserve.

In a May 22 X post, Abbott posted a Techstory article about Texas state lawmakers’ efforts to create a Bitcoin (BTC) reserve. The story pointed out that the decision for the passage of SB 21, the bill in question, now rests on Abbott’s shoulders, roughly three months after it was introduced. 

Since taking office, Abbott referred to himself as a “crypto law proposal supporter” in 2021 and suggested that he would support policies to establish Texas as a “crypto capital” in 2024. Texas was one of a handful of state-level governments that proposed setting up a strategic crypto reserve after the 2024 federal elections.   

Read more