Texas Drops $10 Million On Bitcoin, Officially Buying The Dip First

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Well, well, well, look who’s getting in on the Bitcoin action! Texas has officially jumped on the crypto bandwagon, using $5 million of public money to buy shares in a regulated Bitcoin exchange-traded fund (ETF). Yep, you heard that right. The state’s all in on Bitcoin, but not quite all the way. Just testing the waters, you know?

According to reports (because, of course, Texas doesn’t do anything quietly), this purchase went down on November 20, 2025. And how did they do it? By grabbing shares in the BlackRock iShares Bitcoin Trust (IBIT), which lets them dabble in the crypto craze without actually holding the digital coins themselves. Because, who needs the hassle of a cold wallet, right?

The Lone Star State has set aside a cool $10 million for its “Strategic Bitcoin Reserve.” If you were hoping for a little more excitement, fear not. Only half of that has been spent so far. So, there’s still $5 million left for future (and possibly equally thrilling) crypto adventures. Go big or go home, Texas!

TEXAS BOUGHT THE DIP! The first state to buy Bitcoin, dropping $10M on Nov. 20th at about $87K per coin. Guess they didn’t listen to the “don’t buy when it’s low” advice. But hey, first-mover advantage, right?

– Lee ₿ratcher (@lee_bratcher) November 25, 2025

State Uses ETF As Interim Step

The state’s decision to go the ETF route is a clever little detour while they set up their “custody plans” – you know, just in case they want to keep things a bit safer than the average Bitcoin enthusiast. But don’t worry, Texas isn’t taking any chances. They’re just tracking Bitcoin’s price movements for now, waiting until they can handle the actual cold storage. They’re like the cool kid who waits for everyone else to take the plunge first.

Reports say they bought in at around $87,000 per Bitcoin, which, let’s be honest, isn’t the most thrilling price point, but it’s not too shabby. Remember, they’ve still got $5 million waiting to make the next big move. Fingers crossed it’s at a better price!

What Officials Say And What Comes Next

The purchase, say state officials, is a way to diversify their long-term holdings. Diversification: the adult way to say “let’s not put all our eggs in one basket.” In early 2026, they’ll be looking for a custodian for their crypto stash. And once they’ve got that sorted, they’ll move from ETF to direct Bitcoin ownership. Because why not take control when you can?

Now, just to be clear: ETF shares are nice and all, but they don’t actually give Texas control over those sweet, sweet Bitcoins. That will only come when they finish setting up their custody system. Until then, they’re just “exposed” to Bitcoin’s market moves, which is, you know, the adult version of watching Bitcoin without actually touching it.

Possible Broader Effects

This move could start a trend. After all, Texas is the first state to officially dive into Bitcoin. Sure, $10 million isn’t exactly going to crash the market, but it’s symbolic. If other states get the “Hey, we should do that too” vibe, we could be looking at a whole new state-level crypto craze.

Transparency And Oversight

Of course, the state plans to keep everyone in the loop. Public records say they’ll be reporting regularly on their crypto holdings and any changes in custody plans. So, no funny business here. Everyone will be watching – from taxpayers to lawmakers to anyone who still has a Bitcoin wallet.

With crypto still causing debates everywhere, Texas is playing it safe, opting for regulated products first before jumping fully into the self-custody game. You know, just in case they need to pull out the emergency “crypto is too volatile” card later. Baby steps, people.

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2025-11-26 19:07