Texas was one of the first few states to pass a strategic bitcoin reserve into law with bill SB 21 in June 2025. Texas has now bought $10 million worth of bitcoin through BlackRock’s spot Bitcoin ETF IBIT.
Texas Blockchain Council President Lee Bratcher later confirmed the move, noting that treasury teams had monitored market conditions closely and executed the purchase on November 20th, when Bitcoin briefly dipped to $87,000.
TEXAS BOUGHT THE DIP!
— Lee ₿ratcher (@lee_bratcher) November 25, 2025
Texas becomes the FIRST state to purchase Bitcoin with a $10M investment on Nov. 20th at an approximately $87k basis!
Congratulations to Comptroller @KHancock4TX and the dedicated investments team at Texas Treasury who have been watching this market… pic.twitter.com/wsMqI9HrPD
(source)