The Texas Strategic Bitcoin Reserve and Investment Act establishes the Texas Strategic Bitcoin Reserve as a special fund outside the state treasury, managed by the comptroller of public accounts. The reserve is intended for investing in cryptocurrency, with provisions for accepting donations and managing assets. The bill outlines definitions related to cryptocurrency, including terms like "bitcoin," "airdrop," and "cold storage." It also specifies the sources of funding for the reserve, which include legislative appropriations, dedicated revenue, and investment earnings. The comptroller is granted the authority to manage the reserve's assets prudently and may contract with third-party entities for administration and audits.

Additionally, the bill mandates that any cryptocurrency purchased must have an average market capitalization of at least $500 billion over the previous year. It establishes an advisory committee to assist the comptroller in managing the reserve and requires biennial reporting on the reserve's holdings and activities. The bill amends existing law to clarify that certain state funds, including those invested by the comptroller, are not subject to specific investment regulations. The act will take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that threshold is not met.

Statutes affected:
Introduced: Government Code 2256.004 (Government Code 2256)