Texas Moves Forward with Bitcoin Investment Bill Worth $250 Million

Texas House Bill 4258, which would authorize the state comptroller to invest up to $250 million in bitcoin from the state's "Rainy Day Fund," has been referred to the Delivery of Government Efficiency Committee. The bill was introduced on March 11, 2025, with bipartisan support from Democratic Representatives Ron Reynolds and Mihaela Plesa.

The proposed legislation would allow investment of funds from Texas' Economic Stabilization Fund into bitcoin and other cryptocurrencies. This fund serves as a savings account for the state, designed to prevent sudden cuts to essential services like schools and health care during financial downturns.

Additionally, the bill would permit counties and municipalities to invest up to $10 million of their controlled funds into bitcoin and other cryptocurrencies. If passed, the law would take effect on September 1, 2025, giving officials time to develop investment strategies and custody solutions.

H.B. 4258 is one of eight active bitcoin or crypto-related bills in the Texas legislature. It's the fifth such bill to advance to the committee stage. Four of these bills, including H.B. 4258, would put bitcoin on the state's balance sheet in some way.

The other three bills in this category are:

• H.B. 1598
• Senate Bill 21
• Senate Bill 778

These three bills all propose establishing a Strategic Bitcoin Reserve for Texas. S.B. 21 has already passed the state Senate with a 25-5 vote and is now in its second committee review.

Texas ranks second nationally in active crypto legislation, behind only Arizona, which has nine active bills with three nearing enactment. The state has built a reputation as bitcoin-friendly, both through legislative support and by hosting approximately one-third of all U.S. bitcoin mining operations.

The North Carolina initiative reflects a growing trend among U.S. states exploring Bitcoin as a treasury asset. North Carolina's Senate Bill 327, introduced in March 2025, would allow the State Treasurer to allocate up to 10% of public funds to Bitcoin, stored in multi-signature cold storage with monthly audits. This approach mirrors efforts in more than a dozen states developing Bitcoin reserves.