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Today, H.B. 4258, which authorizes the state’s comptroller to invest up to $250 million in bitcoin has been referred to the state’s Delivery of Government Efficiency Committee, which is Texas’ version of the United States federal government’s DOGE.
The bill was originally introduced to the Texas House of Representatives on March 11, 2025, and was sponsored by two Democratic Congresspeople — Rep. Ron Reynolds and Mihaela Plesa.
Under the proposed legislation, Texas’ comptroller would have the power to invest funds (up to $250 million, as mentioned) from the state’s Economic Stabilization Fund — colloquially referred to as the state’s “Rainy Day Fund”, 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 — into bitcoin and/or other cryptocurrencies.
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.
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.
According to Bitcoin Laws, 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’s House of Representatives. Of the eight bills, it’s the fifth to move to committee.
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 — H.B. 1598, Senate Bill (S.B.) 21 and S.B. 778 — all call for Texas to establish a Strategic Bitcoin Reserve (SBR).
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 with a 25-5 vote.
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.
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.’s total Bitcoin mining hash rate.
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