Overview
- Texas executed the buy on November 20 through BlackRock’s iShares Bitcoin Trust, becoming the first U.S. state to acquire Bitcoin exposure for its treasury.
- Multiple reports point to a $5 million initial deployment from a $10 million allocation, while some outlets cite $10 million based on a social media claim that has not been corroborated by state documents.
- Lee Bratcher of the Texas Blockchain Council said the acquisition was made at an average price of roughly $87,000 per Bitcoin.
- Disclosure of the transaction emerged on November 25 from industry figures, and state officials had not released formal documentation at the time of reporting.
- Texas is using the ETF as an interim step as it advances RFI/RFP work on custody, audits, and governance, with plans to transition the reserve to state self-custody.