Texas has officially positioned itself as the first U.S. state to purchase and hold Bitcoin. This notable move involves an acquisition of $5 million worth of BlackRock’s iShares Bitcoin Trust and another $5 million allocated for direct Bitcoin custody.
While many states have pulled back during the current market downturn, Texas is moving forward. In the latest episode of Byte-Sized Insight, we delve into Texas’s proactive stance and its implications for state and national cryptocurrency policies.
Earlier this year, various states debated bills that would permit public treasuries to hold Bitcoin. However, most of those initiatives stalled as digital asset prices fell. In stark contrast, Texas accelerated its efforts, executing its purchase under the Texas Strategic Bitcoin Reserve Act, enacted in June 2025.
Texas has a History with Bitcoin
Governor Greg Abbott has been a vocal supporter of Bitcoin for over ten years. In a campaign video in 2014, he stated, “Bitcoin is a new and decentralized digital cryptocurrency. It enables instant financial transactions safely and securely.”
His commitment to Bitcoin remains consistent. In a 2022 discussion with the Texas Blockchain Council, Abbott affirmed that Texas aims to be a leader in blockchain technology, asserting, “Texas is getting involved early on in this process because we see the future of what Bitcoin and blockchain means to the entire world.”
A Long-Term Perspective
Lee Bratcher, the president of the Texas Blockchain Council, commented on the state’s strategy, emphasizing that Texas envisions Bitcoin as a long-term asset rather than a fleeting investment. He notes:
“Texas is in this for the long haul… this is not a short-term investment… we’re looking at things in decades rather than years.”
Bratcher highlighted that Texas’s unique economic landscape, characterized by energy resources and a pro-business environment, positions it as an ideal candidate for early and significant Bitcoin investments.
Whether this purchase will reignite interest in Bitcoin at the state level across the U.S. or solidify Texas’s position as an outlier in digital assets remains to be seen.
For the full discussion and insights, tune into the complete episode of Byte-Sized Insight on Cointelegraph’s Podcasts, as well as platforms such as Apple Podcasts and Spotify.
