Texas Invests $10 Million in Bitcoin Through IBIT, Embarks on Self-Custody Plan

Texas has made a significant step into the world of digital assets by investing $10 million directly in Bitcoin through BlackRock’s IBIT ETF. This move marks the first instance of a US state purchasing BTC this way and sets the stage for transitioning towards full self-custody later on. Officials are preparing for long-term financial management with this investment, aligning with legislation that recognizes Bitcoin as a strategic reserve asset.