Texas has officially become the first state in the U.S. to purchase Bitcoin for a government-backed Strategic Reserve. State officials acquired $5 million worth of BTC at an average price of around $87,000 per coin, marking a historic milestone in public-sector crypto adoption.
The purchase was executed through BlackRock’s iShares Bitcoin Trust (IBIT), though Texas plans to eventually self-custody its Bitcoin directly. Lee Bratcher, President of the Texas Blockchain Council, confirmed the landmark move and emphasized the state’s long-term vision for integrating Bitcoin into its financial strategy.
Growing Institutional and State-Level Momentum
This bold step aligns with Texas’ broader push to strengthen its position as the leading crypto-friendly state in America. Lawmakers approved the formation of the Strategic Bitcoin Reserve earlier this year, recognizing BTC as a long-term strategic asset with potential to enhance financial resilience.
Texas’ action comes amid a surge in institutional interest. Harvard University’s endowment recently tripled its IBIT holdings to over $442 million, while Emory University and Abu Dhabi’s Al Warda Investments also increased their Bitcoin exposure.
Momentum is spreading beyond Texas as well. New Hampshire recently approved a $100 million Bitcoin-backed municipal bond, the first initiative of its kind worldwide. This innovative model allows private borrowers to use over-collateralized Bitcoin, showing rising government-level confidence in BTC as a secure and valuable financial instrument.
Overall, Texas’ Bitcoin purchase is more than a symbolic milestone—it signals a turning point in how U.S. states and global institutions are beginning to treat Bitcoin as a strategic financial asset.
