Texas is moving ahead with its state-backed Bitcoin reserve. Acting Comptroller Kelly Hancock on Friday announced the formation of a Strategic Bitcoin Reserve Advisory Committee, appointing five people to guide the state's next round of Bitcoin purchases.
The committee's job
The group's mandate is straightforward: advise on how Texas acquires more Bitcoin for its newly created Strategic Bitcoin Reserve. The reserve itself was established earlier this year under legislation that lets the state hold crypto as a strategic asset. This committee is the operational next step.
Who's on it
Hancock named five individuals to the panel. Their identities weren't detailed in Friday's announcement, but the comptroller's office described them as having expertise in digital assets, finance and state policy. The appointments are effective immediately.
Why now
Texas has been laying groundwork for a state-run Bitcoin reserve for months. The advisory committee's formation signals that the comptroller's office is serious about executing the plan rather than letting it sit on the shelf. The timing also lines up with the next budget cycle, when the state would need to allocate funds for additional purchases.
What comes next
The committee is expected to hold its first meeting within weeks. The comptroller's office hasn't set a specific deadline for a recommendation, but the state's fiscal year begins September 1. That deadline will likely shape the committee's pace.
