Texas Invests $5 Million in Bitcoin, Setting a New Standard for State Policy

Texas is boldly making its mark on the world of finance with a significant investment in Bitcoin. The Lone Star State has officially allocated $5 million to BlackRock’s IBIT ETF, marking the first-ever state-level purchase of digital assets. This strategic move aligns with a new law, SB 21, that designates Texas’s investment portfolio to encompass bitcoin just as it would any other long-term asset like stocks and bonds. The decision underscores a shift in how governments view digital currencies.