"This article examines how Texas shifted from a mining center to a Bitcoin reserve state, how Senate Bill 21 (SB 21) changed its approach to digital assets and why the move suggests a broader shift in government policy. From mining hub to Bitcoin reserve Texas has long been a major center for Bitcoin mining because of its favorable energy prices and supportive regulations. Until 2025, however, the state itself did not own any Bitcoin."
"That changed in November 2025 when the Texas Treasury Safekeeping Trust Company purchased about $5 million of the IBIT exchange-traded fund (ETF), according to the Texas Blockchain Council. The purchase was made under SB 21, a law passed in June 2025 that created the Texas Strategic Bitcoin Reserve. Official transaction records have not yet been released, but the law clearly authorizes such investments."
Texas became the first U.S. state to add Bitcoin exposure to a state-managed investment portfolio by purchasing about $5 million of BlackRock's iShares Bitcoin Trust ETF (IBIT) through a newly created Texas Strategic Bitcoin Reserve. Senate Bill 21 authorized the state comptroller to buy, hold and sell Bitcoin using a legislature-approved $10 million fund, shifting Texas from a crypto mining hub to an active digital asset investor. The initial allocation is small compared with over $667 million in S&P 500 ETFs in the overall portfolio, signaling a cautious, exploratory investment approach distinct from federal programs that mainly manage seized crypto assets. Official transaction records have not yet been released.
Read at Cointelegraph
Unable to calculate read time
Collection
[
|
...
]