Texas Becomes First U.S. State to Buy $5M of BlackRock’s Spot Bitcoin ETF
Texas became the first U.S. state to purchase $5 million of Bitcoin via BlackRock's IBIT ETF for its Strategic Reserve.Summary
On November 20, Texas officially became the first U.S. state to acquire Bitcoin for its Strategic Reserve, purchasing $5 million worth at approximately $87,000 per coin. The purchase was executed through BlackRock’s iShares Bitcoin Trust (IBIT) while the state finalizes plans for eventual self-custody, according to Lee Bratcher, President of the Texas Blockchain Council. This action follows legislation signed in June that established the state's Strategic Bitcoin Reserve. The move reflects growing institutional interest, as universities like Harvard have also significantly increased their IBIT holdings. While Texas plans for self-custody, this initial allocation utilized the ETF. Furthermore, other jurisdictions are exploring similar avenues, such as New Hampshire, which recently approved a $100 million Bitcoin-backed municipal bond.
(Source：Bitcoin Magazine)