Texas Leads the Charge: First State to Stockpile Bitcoin with $10M Push
Key Takes:
- Texas used state funds to give Bitcoin a total of $10 million.
- They plan to spend another $5 million on Bitcoin that they will keep.
- This is the first time that a state in the U.S. has officially bought Bitcoin.
The Details of the Purchase
The Texas legislature approved this investment with $10 million from the state’s general revenue. They spent $5 million on shares in BlackRock’s spot Bitcoin ETF, IBIT. On November 20, 2025, Bitcoin was worth about $87,000 each. So, the ETF gave Texas about 57 Bitcoins’ worth of money.
The ETF is like a basket that holds Bitcoin, which makes it easier for big buyers to invest without having to deal with the coins themselves. Texas isn’t done yet, though. They want to buy Bitcoin with the other $5 million and keep it in their own safe storage, which is called self-custody. At the moment, they’re figuring out how to safely store it themselves.
This news came from Lee Bratcher, who is in charge of the Texas Blockchain Council. He said, “Texas will eventually hold Bitcoin itself, but for now, this initial allocation was made with BlackRock’s IBIT ETF.” This is related to Senate Bill 21, a new law that creates a Bitcoin reserve run by the state.
