Overview
- Texas bought $5 million of BlackRock’s iShares Bitcoin Trust on November 20, a move confirmed by a spokesman for the Comptroller’s office.
- The transaction is the first deployment under SB 21’s $10 million Strategic Bitcoin Reserve, leaving $5 million still to be allocated.
- Lee Bratcher of the Texas Blockchain Council said the state’s average entry price was about $87,000 per bitcoin.
- Officials completed an industry request for information and are preparing a formal request for proposal as they build toward direct, self‑custodied holdings.
- Texas is the first U.S. state to execute a treasury bitcoin purchase, as peers like New Hampshire and Arizona work on reserve frameworks and others pursue ETF exposure through pensions.