Texas Governor Greg Abbott is poised to let Senate Bill (SB) 21, which establishes a Strategic Bitcoin Reserve, become law without his signature. Texas law stipulates that any bill not vetoed or signed within 20 days automatically goes into effect.

This could make Texas one of the first US states to hold Bitcoin as a reserve asset, setting a benchmark for others.

Despite Abbott's previous support for blockchain innovation and crypto mining, this delay in signing has raised questions. SB 21 allows for Bitcoin purchases using excess General Revenue, with guidelines similar to those for gold in the Texas Bullion Depository.