The third bill introduced in Texas aims to expand state and local participation in digital asset investments.
On March 10, Texas introduced its third bill regarding a potential digital asset reserve. The legislative proposal, presented by Democratic Representative Ron Reynolds and designated as HB 4258, seeks to allocate up to $250 million from the state’s economic stabilization fund for the purchase of Bitcoin and other digital assets.
This marks the third attempt by the state to establish a strategic digital asset reserve. The second bill, SB 21, recently gained bipartisan support in the Senate and now awaits a decision in the Texas House, expected by May 24.
Unlike the initiative proposed by Senator Charles Schwertner, HB 4258 explicitly sets a cap on investments and broadens participation to municipalities and counties, allowing them to allocate up to $10 million to digital assets. If approved and enacted into law, the bill would take effect on September 1, 2025.
Commenting on the proposal, Texas Blockchain Council President Lee Bratcher highlighted the state’s strategic position for Bitcoin adoption. He pointed to the “Texas Triangle” – Houston (energy), Austin (technology), and Dallas (capital markets) – as a convergence of industries that would make Bitcoin integration particularly viable.
