Key Takeaways

The Texas Strategic Bitcoin Reserve made its first purchase via BlackRock’s IBIT ETF.

The state plans to transition from ETF holdings to direct self-custody of bitcoin.

Texas’ move positions it as the frontrunner in government-level bitcoin adoption, potentially influencing other states.

Texas has made U.S. history by becoming the first state government to buy bitcoin for its treasury. The state purchased $5 million worth of bitcoin on November 20 through BlackRock’s spot Bitcoin ETF, known as IBIT.

The announcement was made on X by Lee Bratcher, president of the Texas Blockchain Council. Bratcher confirmed the news and said officials had…

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