Texas Unveils Second Bitcoin Reserve Bill, Allowing $250M Investment

Texas lawmakers have introduced a second Bitcoin reserve bill, HB 4258, which would allow the state to invest up to $250 million in Bitcoin or other cryptocurrencies. This bill, which was revealed on March 11, is the latest step in Texas’s efforts to integrate cryptocurrency into its financial strategies. It follows the introduction of Senate Bill 778, which is still under review after passing the Senate with a majority vote.

HB 4258 grants the Texas Comptroller, the state’s chief accountant and financial overseer, the authority to invest as much as $250 million from the economic stabilization fund into Bitcoin or other crypto assets. The bill also expands the scope to allow municipalities and counties to invest in cryptocurrencies, but places a cap of $10 million on their investments in digital assets.

In contrast, the earlier SB 778 did not specify an investment limit but proposed that the state begin collecting taxes and donations in cryptocurrency. It also included a five-year embargo on the sale of state-held Bitcoins, ensuring long-term commitment to the crypto reserve.

Earlier in March 2025, the Texas Senate approved a proposal for public fund investments in Bitcoin by a 25-2 vote. Now, the bill is under review by the Texas House, which is expected to make a decision by May 24, with some experts, like Dennis Porter from the Satoshi Act Fund, speculating that the process may be expedited, potentially landing the proposal on the governor’s desk soon.

Texas’s move is part of a broader trend across the U.S., with 21 states currently considering cryptocurrency strategic reserves. However, most states are still in the early stages of legislation, with 19 proposals still pending, two still under consideration, and five having been rejected.