SB 21 passes Texas House, Governor Abbott in favor of Bitcoin Reserve – just one sign of pro-crypto Texas and its efforts over the past several months.
Meanwhile, Bitcoin has just reached a new all-time high of $111.8K, though it sharply corrected to $108.3K earlier today.
More on Texas’s Recent Progress with SB 21
Texas continues to move toward establishing a Bitcoin reserve – and the state can now be congratulated for reaching the final stages. Recently, SB 21 passed in the House by a 101–42 vote and is now awaiting a concurrence vote by the Senate following House amendments before it can proceed to Governor Greg Abbott.
In particular, Greg Abbott has already voiced his position on the upcoming bill:
“Texas Moves to Establish Strategic Bitcoin Reserve: A New Era in State Finance.”
However, it’s important to note that SB 21 did not pass the House in its original form and was amended. This means the Senate must still approve those changes or vote on them, and only then can SB 21 be sent to Governor Abbott for final sign-off.
All of this is happening against the backdrop of new all-time highs for Bitcoin, which reached $111.7K yesterday but failed to break above $112K. Since then, we’ve seen a sharp correction to $109K and later to $108K earlier today, with the price now rebounding to $109.7K as it attempts to retest resistance.
Conclusion
While some procedural steps remain, SB 21 is now closer than ever to becoming not just a bill – but a law. Not a final victory, but a major milestone and tangible progress. We’ll continue monitoring the next developments.
