PANews reported on May 24 that according to Cointelegraph, Texas Governor Greg Abbott expressed support for a bill to establish a strategic Bitcoin reserve in the state through his official X account. The bill, SB 21, was passed by the state House of Representatives on May 21 and is currently awaiting the governor’s signature.

Abbott has publicly supported cryptocurrency legislation since 2021, and proposed to build Texas into the "crypto capital" in 2024. Texas is one of the few state governments that proposed to establish a crypto reserve after the 2024 election. Previously, New Hampshire Governor Kelly Ayotte took the lead in signing a similar bill on May 6, and Arizona also passed new regulations on the disposal of unclaimed cryptocurrencies.