Texas has taken the first formal step toward becoming the first US state to hold Bitcoin as a strategic reserve asset. On Nov. 25, Lee Bratcher, president of the Texas Blockchain Council, reported that the world’s eighth-largest economy, valued at $2.7 trillion, purchased $5 million worth of BlackRock’s spot Bitcoin ETF, IBIT. He added that a […]
The post Why Texas is buying Bitcoin from BlackRock before building a real reserve appeared first on CryptoSlate.
Texas has moved public money into Bitcoin exposure, buying $5 million worth of shares in a regulated Bitcoin exchange-traded fund. Related Reading: Bitcoin Creator Somehow Becomes ‘Poor’ By Losing $41 Billion Without Saying A Word According to reports, the state’s purchase was made on November 20, 2025, and it used the BlackRock iShares Bitcoin Trust (IBIT) to gain price exposure without immediately holding the cryptocurrency itself. The state set aside a total allocation of $10 million for its new Strategic Bitcoin Reserve. Lee Bratcher, who leads the Texas Blockchain Council, confirmed the state’s crypto purchase on X. State Uses ETF As Interim Step Reports have disclosed that officials chose the ETF route as a temporary measure while the state puts custody plans in place. The IBIT shares give Texas a stake that tracks Bitcoin’s market moves. Based on reports, the entry price equated to roughly $87,000 per BTC at the time of the buy. The buy represents half of the total allocation, leaving $5 million still available for future moves. TEXAS BOUGHT THE DIP! Texas becomes the FIRST state to purchase Bitcoin with a $10M investment on Nov. 20th at an approximately $87k basis! Congratulations to Comptroller @KHancock4TX and the dedicated investments team at Texas Treasury who have been watching this market… pic.twitter.com/wsMqI9HrPD — Lee ₿ratcher (@lee_bratcher) November 25, 2025 The move follows legislation passed earlier in the year. According to public records, the reserve program was created by Senate Bill 21, signed in June 2025. The law authorizes a capped budget for the reserve and sets conditions for what assets qualify. Reports have disclosed that Bitcoin met the criteria laid out in the measure, prompting the initial allocation. What Officials Say And What Comes Next According to state officials, the purchase is meant as a hedge and a way to diversify long-term holdings. An RFP process is expected to pick a custodian, with officials planning to transfer from ETF positions to direct custody once systems are ready. The request for proposals is slated for early 2026, based on public statements. Analysts noted the distinction between ETF shares and direct ownership. ETF holdings provide price exposure; they do not give the state direct control over on-chain Bitcoin wallets. That control would come only after the state completes its custody procurement and shifts assets into cold storage or similar solutions. Possible Broader Effects Market observers say the purchase is notable because it marks one of the first instances of a US state formally placing public funds into Bitcoin exposure. The amount is small relative to broader markets, yet symbolic. It may prompt other states to consider similar reserve strategies, especially where lawmakers favor diversification. Related Reading: Hamas Victims Sue Binance And CZ — Accusations Of Terror Financing Rock Crypto World Transparency And Oversight According to public filings, the state will publish details of the holdings and any custody plan updates. Oversight mechanisms built into the law require regular reporting, and the remaining $5 million allocation must follow the same rules before it is used. That reporting will be watched closely by lawmakers, taxpayers, and market watchers. The buying decision was made amid wide debate over how government bodies should handle crypto assets. Texas plans to move carefully, using regulated products first and then moving toward self-custody when the proper safeguards and vendors are chosen. Featured image from Pexels, chart from TradingView
TeraWulf upsizes and prices a $900 million zero-coupon convertible due 2032 to fund a Texas data center build.
The Lone Star State appears as if it will be the first in the U.S. to hold bitcoin.
Abbott also passed a companion bill that shelters the strategic Bitcoin reserve, alongside other state funds, from periodic 'fund-sweeps.'
The Connecticut legislature has barred that state's government from setting up the kind of digital assets reserves seen forming elsewhere in the U.S.
Texas legislators have moved closer to formalizing a Bitcoin reserve for the state. On May 27, a joint Conference Committee composed of House and Senate lawmakers reached an agreement on the final version of Senate Bill 21 (SB 21), dubbed the Texas Strategic Bitcoin Reserve Act. According to the committee, one of the most significant […]
The post Texas lawmakers finalize details on Bitcoin reserve, removes staking ahead of final vote appeared first on CryptoSlate.
Texas Governor Greg Abbott has sparked speculation about his backing of a proposed state-held Bitcoin reserve. On May 23, he shared a news article on his official X account that covered legislative efforts to pass the Strategic Bitcoin Reserve (SBR) bill. The article also acknowledged Abbott’s long-standing support for digital assets and highlighted his role […]
The post Texas governor Greg Abbott gestures support for Bitcoin reserve bill appeared first on CryptoSlate.
The House voted in favor of Senate Bill 121 which would establish a "Texas Strategic Bitcoin Reserve for the purpose of investing in cryptocurrency"
The firm expects its 19.9 MW bitcoin mine to be running by the end of July.
Texas is advancing plans to create a government-backed Bitcoin reserve after lawmakers approved Senate Bill 21 (SB 21) in its second House reading on May 20. According to voting records on the Texas Senate website, the proposal passed with a commanding 105 to 23 vote, reflecting rare bipartisan support. It now heads to a third […]
The post World’s 8th largest economy close to adopting Bitcoin reserve as Texas heads to final vote appeared first on CryptoSlate.
Texas Republican Lance Gooden suggested to the agency that runs office space that installing ATMs will help align the government with Trump's crypto push.
Texas has introduced a second crypto reserve bill, marking another significant step toward integrating Bitcoin into its financial framework. According to a document released on March 11, the proposed legislation, HB 4258, seeks to allocate up to $250 million from the state’s economic stabilization fund for Bitcoin and other digital assets. This marks the second […]
The post Texas doubles down on crypto with new $250 million Bitcoin reserve bill appeared first on CryptoSlate.
Texas' bitcoin strategic reserve bill clears its senate, while New Hampshire marks a committee win and Utah teeters on a deadline this week.
Five states' crypto efforts faltered as Texas advances and Utah nears a final vote, leaving the state-level push for digital asset reserves with mixed results.
Genesis Digital Assets is a private bitcoin miner that claims to have one of the largest hashrate capacities in the world.
The acquisition adds 114 megawatts of wind capacity to MARA’s asset base as it expands into energy infrastructure.
If passed and signed into law, “it would make Texas the first state to establish a strategic Bitcoin reserve,” says Senator Charles Schwertner.
The difference in outlook between traders and high net-worth individuals has never been greater, according to David Siemer, CEO of Wave Digital Assets.
In an interview with Cointelegraph, US Senator Ted Cruz discusses Bitcoin’s role in driving small business growth, its potential as a hedge against inflation, and why Texas is becoming a top crypto hub.
The draft legislation suggested that Texas residents could fund the Bitcoin reserve through voluntary donations.
If Senator Ted Cruz of Texas gets his way, he wants the state to be the “oasis of Bitcoin.” For Cruz, the primary hurdle to full Bitcoin adoption is the federal government itself, particularly its left-leaning policies. Related Reading: Ripple CEO Reacts To Trump’s Billionaire Treasury Secretary Nominee The state of Texas, he says, can […]
A Texas federal court has rejected the U.S. Securities and Exchange Commission's recent rule expanding the definition of a securities dealer to include a wider swath of firms — including some in the cryptocurrency sector. This adds a significant legal loss to the crypto legacy of SEC Chair Gary Gensler on the same day he announced his January departure.
According to the President of the Texas Blockchain Council, the recent election outcome brought much-needed relief for the industry.
Bitcoin mining provides an opportunity for independent power producers to sell their electricity on a worldwide market, according to Sangha Renewables President Spencer Marr.
Ted Cruz, representing Texas in the US Senate since 2013, has received millions in support from the crypto industry but is still at risk of losing his seat to Colin Allred.
The massive category 4 hurricane has killed at least 137 people, and many more are still missing — while millions of homes and businesses remain without power.
After visiting a Bitcoin mining facility and receiving the endorsement of a blockchain advocacy group, Senator Ted Cruz reported purchasing up to $100,000 worth of BTC in 2023.
Riot says the deal will immediately add one exahash per second to its self-mining hashrate and expands its footprint in the United States.
Hashrate for Bitcoin network typically becomes flat or declines during North American summer time, industry experts say.