Texas has just passed the Bitcoin bill, and three states in the US have started Coin Hoarding.

On June 21, 2025, local time, Texas Governor Greg Abbott worked overtime over the weekend to sign SB21, the Texas Strategic Bitcoin Reserve Act, making it law.

Texas is actually the third state in the United States to adopt Bitcoin as a reserve, the first being New Hampshire.

May 6, 2025, but the bill will take effect 60 days after the governor's signature (i.e., July 5, 2025), so New Hampshire has not started purchasing Bitcoin.

The second to pass was Arizona, originally this state's progress was the fastest, their SB1025 bill allows the state treasurer and state retirement system to invest up to 10% of public funds (about $3.1 billion) in Bitcoin.

However, after this bill was passed by both the House and the Senate, it was vetoed by Governor Hobbs on May 3, citing that "the Arizona retirement system should not invest in untested virtual currencies."

Fortunately, the legislators in Arizona are quite proactive and have proposed multiple bills for Bitcoin reserves.

Another source of funding for the HB2749 bill comes from criminally seized digital assets, profits from unclaimed property, staking rewards, airdrops, and other passive income.

This plan to hoard coins without spending money was finally approved by the governor on May 7, just a day later than New Hampshire.

Arizona also has a bill SB1373 waiting for the governor's signature, which allows the state treasurer to invest up to 10% of the Budget Stabilization Fund in Bitcoin, and it is also waiting for the governor's signature.

The recently passed Texas SB21 bill also requires the state government to spend money to buy Bitcoin, authorizing the state auditor to invest in Bitcoin and other cryptocurrencies with a market value exceeding $500 billion. The funding sources include legislative appropriations, designated revenues, and existing crypto assets.

The legislative process in Texas is very efficient; this bill was passed on May 30 and sent to the governor's desk on June 1.

According to Texas law, if the governor does not veto by June 22, this bill will also automatically take effect.

No wonder Texas Governor Greg Abbott had to work overtime to sign it over the weekend; if he didn't sign it and let the bill take effect automatically, wouldn't that offend the big miners in Texas?

The Texas bill does not specify how much to invest in buying Bitcoin. Texas has a developed economy and a high potential for future buying, but in the short term, it may be limited to pilot investments.

According to Texas legislative practice, if a bill does not receive more than two-thirds support (SB 21 did not meet this threshold), it will default to taking effect 90 days after signing.

That is to say, Texas will only start purchasing Bitcoin as early as September 19, 2025.

Currently, the reserve bills in various states are not limited to Bitcoin; most set a threshold of a market value of 500 billion.

Other altcoins should also put in some effort, once the market value skyrockets, the government can take over~