Texas Secures Bitcoin Reserve with HB4488 as SB21 Vote Looms
Texas Governor Greg Abbott has signed HB4488 to legally shield the state’s Bitcoin Reserve—both on-treasury and off-treasury—from being diverted into general revenue. The formal establishment of the Texas Bitcoin Reserve now hinges on Senate Bill 21 (SB21), which would permit the state to invest in cryptocurrencies with market capitalizations above $500 billion—currently only Bitcoin (BTC). SB21 was delivered to the governor on June 1 and will automatically become law if not signed or vetoed by June 22, 2025. Texas would join New Hampshire and Arizona among the first U.S. states considering formal Bitcoin Reserve programs. Traders should watch SB21’s outcome and the June 22 deadline closely, as its enactment could signal new state-backed Bitcoin accumulation and influence market sentiment around the Bitcoin Reserve.
Bullish
The passage of HB4488 secures the legal framework for the Texas Bitcoin Reserve, reducing regulatory uncertainty. With SB21 potentially enabling direct state investment in Bitcoin, traders can anticipate increased institutional demand and positive sentiment around Bitcoin Reserve programs. In the short term, the June 22 decision deadline may drive speculative positioning, while in the long term, formal state-backed accumulation could underpin sustained demand and price support for BTC.