Texas Poised to Hold Bitcoin Reserves After Historic Vote

Texas lawmakers passed a groundbreaking resolution on May 29 authorizing the state’s treasury to allocate up to $100 million in Bitcoin reserves. The bipartisan vote—approved by 72% of the legislature—marks the first instance of a U.S. state formally recognizing Bitcoin as a legitimate reserve asset.

Vote details

House Bill 2483 passed 78–30, mandating the comptroller to invest surplus funds into BTC via regulated custodians. The measure defines clear guidelines: purchases must be dollar-cost averaged over six months and held in cold storage within state- certified vaults.

“This is about hedging against inflation and diversifying our balance sheet,” said State Representative Maria Gonzalez, the bill’s sponsor. “Texas leads again in financial innovation and responsible stewardship.”

Funding allocation

The $100 million cap equates to roughly 890 BTC at current prices near $112,300. Comptroller Glenn Hegar will oversee purchases, leveraging Dallas-based custodian Prime Trust. Monthly allocations of up to $16.7 million are planned, smoothing entry risk over inflation and volatility cycles.

Surplus funds earmarked for the program originate from the state’s rainy-day fund and unclaimed property revenues—assets typically held in short-term Treasuries.

Market reaction

The announcement sent Bitcoin up 2.4% to $114,800 on May 30, as Wall Street desks scrambled to recalibrate models. Coinbase’s CFO Alesia Haas noted, “This is a watershed moment that validates Bitcoin’s role as digital gold at the state level.”

Institutional products saw spillover flows: Grayscale’s GBTC trust added $120 million, and Bitwise’s Bitcoin ETF reported its largest daily inflow since inception at $95 million.

Infrastructure plans

Texas is also accelerating blockchain node deployment across public universities, aiming to integrate BTC holdings into research and academic curricula. A new grant program will fund 10 research chairs focusing on on-chain analytics and cybersecurity.

Additionally, partnerships with energy firms will explore using stranded oil gas for Bitcoin mining, aligning with the state’s push for cleaner, local power usage.

Outlook

Texas’s move could spark a domino effect—other states like Florida and Ohio have draft legislation under consideration. For Bitcoin bulls, this represents a structural shift toward public-sector adoption and balance-sheet diversification.

Investors will watch subsequent purchases closely; if Texas follows through on allocations, on-chain supply pressure could tighten, underpinning further price appreciation.

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