Texas Becomes First State to Invest in Bitcoin for its Treasury

Texas has made history, becoming the first U.S. state to purchase Bitcoin for its treasury reserves. This pioneering initiative was spearheaded by Senate Bill 21 and driven by the Texas Blockchain Council. A $5 million investment into BlackRock’s IBIT spot Bitcoin ETF signals a major step towards integrating digital currencies in public finance. Plans are already underway to add another $5 million through direct Bitcoin purchases, according to state officials.