Texas has officially made history. The southern state is the first in the United States to add Bitcoin to its state treasury. With a $10 million purchase, Texas aims to build a strategic digital reserve, taking a pioneering role in a debate that is increasingly being held worldwide: should governments hold a portion of their wealth in crypto?
Texas Buys $10 Million in Bitcoin #
On November 20, Texas completed the first purchase for its new ‘Strategic Bitcoin Reserve.’ This was not done by buying bitcoin directly, but through BlackRock’s spot Bitcoin ETF: IBIT. An ETF (Exchange Traded Fund) is an investment product that tracks the price of an underlying asset. It makes it easier for institutions to gain exposure to bitcoin without having to store it themselves.
According to the Texas Blockchain Council, the purchase was made at an average price of approximately eighty-seven thousand dollars per bitcoin. This structure allows the state to build a position now while it works on a legal and technical framework to eventually hold the coins itself.
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
Using an ETF is attractive for government agencies: it complies with existing regulations, avoids operational risk, and allows for a controlled entry. However, for Texas, it is only a temporary solution.
Plans for More Bitcoin? #
The state has already announced that it wants to hold its own bitcoin in the long term, a process known as ‘self-custody.’ This means Texas does not want to remain dependent on a financial intermediary like BlackRock. The goal is to set up a completely in-house management system within the existing state structure.
Proponents see the move as a logical extension of Texas’s economic profile, which already plays a significant role in the U.S. energy and bitcoin mining sectors. By including Bitcoin in its state treasury, Texas aims to hedge against monetary uncertainty while simultaneously strengthening its reputation as an innovation hub.
What Does This Mean for Other States? #
Texas’s move could have broader consequences. Several U.S. states have examined proposals in recent years to integrate Bitcoin into investment strategies, but none have come as far as Texas. The expectation is that this purchase will reignite the debate elsewhere, especially as digital assets are increasingly seen as long-term reserves.
For now, Texas remains the only state with an official Bitcoin reserve, but with this decision, it is setting a precedent that could see many followers in the coming years. This could fundamentally change the role of Bitcoin in American financial policy—and Texas clearly wants to be at the forefront if that shift accelerates.