Texas state Rep. Ron Reynolds, a Democrat from Missouri City, has filed a bill that would let each city and county in Texas invest up to $10 million in bitcoin or another cryptocurrency.
A separate cap for every local government
House Bill 815 was filed on Nov. 9, ahead of the 90th Texas Legislature’s regular session, which convenes Jan. 12, 2027.
The two-section bill would amend the Public Funds Investment Act by adding a new section that reads:
“A municipality or county may invest not more than $10 million of its money or money under its control in Bitcoin or another cryptocurrency.”
“A municipality or county may invest not more than $10 million of its money or money under its control in Bitcoin or another cryptocurrency.”
The $10 million limit applies to each city and county individually rather than to a single statewide pool.
The authority would be optional, as the bill does not require any local government to buy, set a minimum investment, or provide state money for purchases.
School districts are left out of the new authority.
Borrowed definitions, fewer guardrails
HB 815 takes its definitions of “Bitcoin” and “cryptocurrency” from Senate Bill 21, the 2025 law that created the Texas Strategic Bitcoin Reserve.
However, it does not carry over that law’s requirement that assets average at least $500 billion in market capitalization over the most recent 24 months, nor its provisions on cold storage and qualified custodians.
Cities and counties would still need to add cryptocurrency to their written investment policies before buying any.
A narrower take on an earlier bill
In March 2025, Reynolds filed HB 4258, which would have let the comptroller invest up to $250 million from the state’s Economic Stabilization Fund in bitcoin or another cryptocurrency, alongside the same $10 million allowance for cities and counties.
That bill did not become law.
The state reserve itself held approximately $10 million in bitcoin exposure through BlackRock’s iShares Bitcoin Trust as of May 29, 2026, according to crypto.news.
What comes next
HB 815 has not yet been referred to a committee.
If it passes both chambers and is signed, the new authority would take effect Sept. 1, 2027.
