Texas Governor Kelly Hancock on Thursday announced the members of the Texas Strategic Bitcoin Reserve Advisory Committee, a new organization created to work and lead the government’s management, management, and price of bitcoin.
The committee was established under Senate Bill 21, it has passed and the 89th Texas Legislature and signed into law on June 22, 2025 – making Texas one of the most prominent states in the nation to move forward with the use of bitcoin reserves.
“The Legislature gave the Comptroller’s office the clear responsibility of managing the Texas Strategic Bitcoin Reserve, and that work must be done with transparency, security and proper financial management,” Hancock said. words Thursday. “This advisory committee brings together the expertise needed to help the state act diligently, responsibly and in the best interest of Texas taxpayers.”
The five-member committee — which includes Hancock himself — draws on financial, legal, and digital expertise.
Laurie Dotter, who chairs the Investment Advisory Board for the Employees Retirement System of Texas, brings more than 35 years of business and leadership experience.
Jamie McAvity, the founder and CEO of Cormint Data Systems, is a world-renowned bitcoin developer who operates a 130-megawatt facility in Fort Stockton that has high-end configurations.
Legal expert Carla Reyes, professor at Southern Methodist University, currently serves on the Federal Commodity Futures Trading Commission’s Innovation Advisory Committee and has testified before Congress on blockchain principles.
Rounding out the team is Gary A. Vecchiarelli, CPA, president and CFO of CleanSpark, who built the company’s BTC trading desk, production process, and digital asset management.
The office also issued an RFP to seek A qualified crypto manager to support the Strategic Bitcoin Reserve, which currently has approximately $10 million through the iShares Bitcoin Trust (IBIT), with security, investment, and asset management services.
The move reflects the planned transition from ETF-based exposure to Bitcoin held directly within 60 days of the contract’s launch, indicating a shift to full ownership, collective security, and greater support for cryptocurrencies over time.
Washington’s own Bitcoin reserve push to hit the barriers
Texas’ move comes as the federal government continues to strengthen its Strategic Bitcoin Reserve – a process that has proven more difficult than initially expected.
President Trump he signed An executive order on March 6, 2025, directing the Department of the Treasury to establish a repository with BTC previously seized through criminal and criminal extortion – approximately 328,372 BTC, making the US the largest known BTC holder in the world.
The law prohibits the Treasury Department from selling bitcoin.
However, the path to a permanent, archived repository has been met with delays. In January 2026, Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, admitted that “hidden laws” still need to be overcome.
By May 2026, Witt he signed that a major legal victory had been achieved, saying that an announcement about the zoo was imminent.
Legislation to make the facility permanent is moving forward in Congress. The American Reserves Modernization Act – sponsored by Senator Cynthia Lummis and Representative Nick Begich – will allow the Treasury to buy up to 200,000 BTC per year for five years, with the reserves closed for at least 20 years.
If it passes, the Treasury’s Treasury’s first open market purchase of Bitcoin is expected in Q4 2026.
