SB 21 seeks to establish a Strategic Bitcoin Reserve (SBR), making Texas one of the few US states to explore direct exposure to Bitcoin at the government level.
The implications of such a move are considerable. Texas is the world’s eighth-largest economy, valued at $2.6 trillion, surpassing Russia, Canada, and Australia. A state-level Bitcoin reserve in such a robust economy would mark a major milestone for crypto adoption in the US.
“Every state is different.”
Ahead of the vote, lawmakers introduced a significant amendment allowing other digital assets to be included in the reserve, but only if they meet strict requirements.
To qualify, a digital asset must maintain a $500 billion market cap for at least two years. This is double the original 12-month requirement and raises the barrier for inclusion.
“This means [that] an asset must sustain the minimum market cap for longer. Making it harder for to qualify.”
This update effectively narrows the field as Bitcoin stands alone in meeting the threshold. It holds a market value of more than $2 trillion, making it the only eligible digital asset under the current criteria.
