Texas Invests in Bitcoin: First US State to Purchase Cryptocurrency for Treasury

Texas has achieved a groundbreaking milestone by becoming the first U.S. state to purchase Bitcoin for its treasury. On November 20, the state invested $10 million in Bitcoin, marking the launch of its Strategic Bitcoin Reserve. Lee Bratcher, President of the Texas Blockchain Council, confirmed this historic acquisition through X. The purchase was made using BlackRock’s spot Bitcoin ETF, IBIT, with an average price of $87,000 per Bitcoin.