Fact Check: Did the Texas Senate Approve the ‘XRP Reserve Bill’ to Buy $100 Million in XRP Annually?

The post Fact Check: Did the Texas Senate Approve the ‘XRP Reserve Bill’ to Buy $100 Million in XRP Annually? appeared first on Coinpedia Fintech News

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.