Texas Appoints Advisory Committee for Strategic Bitcoin Reserve Initiative

Texas is taking another major step in its state-backed Bitcoin strategy by appointing a five-member advisory committee to oversee the newly established Texas Strategic Bitcoin Reserve. The announcement was made by acting Texas Comptroller Kelly Hancock, who emphasized the importance of transparency, security, and strong financial management in administering the reserve.

According to Hancock, the advisory committee will provide expert guidance on key areas such as Bitcoin valuation, digital asset custody requirements, risk management, and financial controls. The goal is to ensure that the Texas Strategic Bitcoin Reserve is managed responsibly while protecting the interests of Texas taxpayers.

The reserve was officially created through Senate Bill 21 during the 89th Texas Legislature, positioning Texas as one of the leading U.S. states exploring Bitcoin adoption and digital asset investment strategies. The committee consists of Hancock and four industry experts with extensive experience in investment management, Bitcoin mining, law, and corporate finance.

Among the appointees is Laurie Dotter, a veteran investment executive and current chair of the Investment Advisory Board of the Employees Retirement System of Texas. Jamie McAvity, founder and CEO of Texas-based Bitcoin mining company Cormint Data Systems, has also joined the panel. His company operates a 130-megawatt Bitcoin mining facility in Fort Stockton.

The committee also includes Carla Reyes, a Southern Methodist University law professor known for her expertise in blockchain regulation, commercial law, and emerging technologies. Reyes serves on the Commodity Futures Trading Commission’s Innovation Advisory Committee. The fourth appointee is Gary Vecchiarelli, President and CFO of Bitcoin mining firm CleanSpark, who has extensive experience in digital asset management and institutional investment frameworks.

In addition, the Texas Comptroller’s office has issued a Request for Proposals (RFP) to identify a qualified service provider for custody and liquidity management. The selected firm will be responsible for safeguarding Texas’ Bitcoin holdings, managing reserve assets, and developing a public-facing website that provides reserve data and educational resources.

The latest development highlights Texas’ growing commitment to Bitcoin and digital assets. Meanwhile, the White House is reportedly continuing discussions surrounding the potential creation of a national Bitcoin reserve, signaling increasing interest in cryptocurrency at both state and federal levels.