7D
...
Texas has become the first U.S. state to officially buy Bitcoin for its Strategic Reserve, securing $5 million worth of BTC at around $87,000 each. The acquisition was executed through BlackRock’s iShares Bitcoin Trust (IBIT) as the state continues preparing to self-custody its holdings. Lee Bratcher, President of the Texas Blockchain Council, confirmed the landmark purchase and said Texas will eventually hold its own Bitcoin directly.
The move strengthens Texas’ push to position itself as America’s leading crypto-friendly hub. Lawmakers approved the creation of the Strategic Bitcoin Reserve earlier this year, aiming to treat BTC as a long-term strategic asset. The announcement follows a wave of institutional adoption, with Harvard’s endowment tripling its IBIT holdings to more than $442 million, alongside growing exposure from Emory University and Abu Dhabi’s Al Warda Investments.
Momentum is spreading to other states as well. New Hampshire recently approved a $100 million Bitcoin-backed municipal bond, the first of its kind globally. The state’s plan allows private borrowers to leverage over-collateralized Bitcoin, signaling broader government-level confidence in BTC as a financial instrument.
