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Today, H.B. 4258<\/a>, which authorizes the state\u2019s comptroller to invest up to $250 million in bitcoin has been referred to the state\u2019s Delivery of Government Efficiency Committee<\/a>, which is Texas\u2019 version of the United States federal government\u2019s DOGE<\/a>.<\/p>\n The bill was originally introduced to the Texas House of Representatives on March 11, 2025, and was sponsored by two Democratic Congresspeople \u2014 Rep. Ron Reynolds and Mihaela Plesa.<\/p>\n Under the proposed legislation, Texas\u2019 comptroller would have the power to invest funds (up to $250 million, as mentioned) from the state\u2019s Economic Stabilization Fund<\/a> \u2014 colloquially referred to as the state\u2019s \u201cRainy Day Fund\u201d, which was created to serve as a savings account for the state and to prevent sudden notable cuts to schools, health care, or other vital state services \u2014 into bitcoin and\/or other cryptocurrencies.<\/p>\n It also authorizes municipalities or counties to invest up to $10 million of its funds or funds under its control into bitcoin and\/or other cryptocurrencies.<\/p>\n If the bill were to become law, it would take effect on September 1, 2025, which would provide state- and local-level government officials time to formulate an investment strategy as well as devise a plan for custody.<\/p>\n According to Bitcoin Laws<\/a>, H.B. 4258 is one of eight currently active bitcoin- or crypto-related bills that have been introduced to either the Texas Senator or the state\u2019s House of Representatives. Of the eight bills, it\u2019s the fifth to move to committee.<\/p>\n Four of these bills, including this current bill, would authorize the state to put bitcoin on its balance sheet in some fashion. The other three \u2014 H.B. 1598<\/a>, Senate Bill (S.B.) 21<\/a> and S.B. 778<\/a> \u2014 all call for Texas to establish a Strategic Bitcoin Reserve (SBR).<\/p>\n These three SBR bills are all in committee, with S.B. 21 now in its second round of review by committee. The bill recently passed the state Senate<\/a> with a 25-5 vote.<\/p>\n Texas remains the state with the second highest number of active bitcoin- and crypto-related bills, trailing behind only Arizona, which has nine active bills, three of which are close to being enacted into law.<\/p>\n The state continues to be one of the most Bitcoin-friendly states in the United States, as not only is it friendly to Bitcoin in a legislative sense, but it is currently home to approximately one-third of the U.S.\u2019s total Bitcoin mining hash rate<\/a>.<\/p>\n<\/p><\/div>\n