The Texas Strategic Bitcoin Reserve Bill will undergo its second reading in the House on May 20th

BlockBeats News, May 18th. According to SAF co-founder Dennis Porter, the Texas Strategic Bitcoin Reserve Bill (SB 21) will undergo its second reading in the House on May 20th, which is a necessary step before the final vote. If the bill passes the full House vote before the Texas legislature adjourns on June 2nd, it will be sent to the Governor for signature.

On March 6, 2025, the Texas Senate passed the SB 21 bill with 25 in favor and 5 against, leading to its consideration in the House. On May 8, 2025, the SB 21 bill passed the House Committee without modification and was advanced to the full House vote stage.

The SB 21 bill aims to establish the Texas Strategic Bitcoin Reserve, investing in Bitcoin and other cryptocurrencies. The reserve fund will consist of appropriations through legislation, dedicated revenues, purchased cryptocurrencies, investment returns, and donations, and will employ security measures such as cold storage. The bill mentions the creation of an advisory committee to provide investment strategy guidance and requires the publication of a transparent reserve report every two years.