Overview
- Bitcoinist reported the $10 million acquisition based on a disclosure from market commentator MartyParty on X, and there has been no official confirmation from the Texas Comptroller.
- Texas gained exposure through BlackRock’s iShares Bitcoin Trust, opting for an ETF vehicle rather than direct self-custody for this allocation.
- SB 21 authorized a Strategic Bitcoin Reserve that can accept resident donations and limits eligible crypto holdings to assets with market capitalizations above $500 billion.
- The reported allocation equals about 0.0004% of Texas’s roughly $338 billion biennial budget, signaling a limited-scale rollout.
- The move is characterized as the first taxpayer-funded state crypto purchase, with Arizona and New Hampshire having authorized but not funded similar reserves, and Bitcoin Magazine separately reported a $5 million Texas buy on November 20 via IBIT.