Texas has allocated $5 million into BlackRock’s iShares Bitcoin Trust (IBIT) as the initial step in a $10 million legislated strategic bitcoin reserve.
The purchase serves as a temporary bridge while the state finalizes custody guidelines and selects a qualified custodian for direct on-chain bitcoin holdings.
Texas now joins a growing list of U.S. states actively building government-level crypto reserves, including Michigan, Wisconsin, New Hampshire, and Arizona, which are either exploring or already implementing similar programs.
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Texas has allocated $5 million into BlackRock’s iShares Bitcoin Trust (IBIT) as the initial step in a $10 million legislated strategic bitcoin reserve.
The purchase serves as a temporary bridge while the state finalizes custody guidelines and selects a qualified custodian for direct on-chain bitcoin holdings.
Texas now joins a growing list of U.S. states actively building government-level crypto reserves, including Michigan, Wisconsin, New Hampshire, and Arizona, which are either exploring or already implementing similar programs.