A rumor has been circulating online claiming that the Texas Senate passed an “XRP Reserve Bill” that would require the state to purchase up to $100 million worth of XRP each year. This claim is false.
What Really Happened
On September 27, the Texas Senate approved Senate Bill 21, which creates the Texas Strategic Bitcoin Reserve. The legislation allows the state to invest in cryptocurrencies, but only those with a market capitalization above $500 billion. Currently, the only asset that meets this threshold is Bitcoin.
No Mention of XRP in the Law
The text of SB 21 does not mention XRP or any other altcoin. It is specifically focused on Bitcoin and recognizes its role as a digital store of value. Suggestions that Texas will regularly buy XRP or establish a state-backed XRP reserve are not supported by any official documents or reporting.
Background
Previously, the Trump administration announced plans for a US Strategic Bitcoin Reserve and a Digital Asset Stockpile made up of altcoins.
It was revealed that the Strategic Bitcoin Reserve will initially consist of BTC previously seized by the US government and held by the Treasury. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnik will explore ways to add more BTC to the reserve in the future without affecting taxpayers, including transfers from other federal agencies.
The Digital Asset Stockpile, which contains only altcoins, operates differently. It will consist of crypto seized from illicit activities. Unlike the Bitcoin reserve, there are no plans to add more altcoins except those acquired from future seizures.
Earlier confusion arose when Trump mentioned on social media that XRP, SOL, ADA, ETH, and BTC would be part of the reserves. Experts clarified that this was likely a reference to top altcoins by market cap, and it’s unclear if the government currently holds all these cryptos.
Verdict
The claim that Texas has passed an XRP Reserve Bill is misleading. Texas has approved a Strategic Bitcoin Reserve, not an XRP reserve. Any reports suggesting otherwise are false.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Kadena (KDA) price has recorded its worst single-day loss since inception. The small-cap altcoin dropped…
The Ethereum Foundation (EF) has transferred over $650 million worth of ETH to a wallet…
Brale, a platform that lets businesses create their own stablecoins, is now live on the…
After months of Bitcoin dominance keeping altcoins in check, crypto analysts now believe the long-awaited…
The crypto market, led by Bitcoin (BTC) and Ethereum (ETH), is on the rise. The…
The crypto market has turned green, and XRP is gaining attention once again. Over the…
