Texas Executes Its First Bitcoin Allocation
The first phase of the reserve was completed through BlackRock’s iShares Bitcoin Trust (IBIT), according to Lee Bratcher, President of the Texas Blockchain Council. Bratcher explained that $5 million of the allocation was deployed immediately, while the rest aligns with the structure of the broader reserve framework already approved by lawmakers.
Texas officials emphasized that ETF exposure is only a temporary mechanism, with the state planning to self-custody its Bitcoin once the procurement process for secure storage concludes.
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
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
How Texas Built Its Strategic Bitcoin Reserve
Texas’ bold move did not happen overnight. Earlier this year, state lawmakers approved the creation of a Strategic Bitcoin Reserve, a landmark piece of legislation signed by Governor Greg Abbott in June.
The bill, originally introduced by State Representative Giovanni Capriglione, positioned Bitcoin as a long-term strategic asset, outlining strict cold-storage requirements, multi-year holding periods, and optional contribution channels for Texas residents. The plan even allows state agencies to receive payments in cryptocurrency and convert them into BTC for the reserve.
Institutions Increase Bitcoin Exposure as Texas Leads the Way
Texas’ reserve launch comes at a time when institutional appetite for regulated Bitcoin products is accelerating.
The Harvard University Foundation recently expanded its IBIT holdings to $442.8 million - its largest single investment ever reported. Other major institutions, including Al Warda Investments (Abu Dhabi) and Emory University, have also deepened their exposure to Bitcoin ETFs in recent months, signaling broader market alignment with Texas’ strategic approach
Other U.S. Governments Begin Exploring Bitcoin-Backed Instruments
Texas isn’t alone in experimenting with government-level crypto adoption.
New Hampshire recently became the first jurisdiction in the world to issue a Bitcoin-backed municipal bond, approved by the state’s Business Finance Authority. The $100 million conduit structure allows private companies to borrow funds backed by overcollateralized BTC deposits, typically requiring 160% collateral ratios.
Any appreciation in pledged Bitcoin helps grow New Hampshire’s Bitcoin Economic Development Fund, blending public finance and digital asset innovation.
A New Era of State-Level Bitcoin Adoption
Texas’ pioneering move signals a shift in how government institutions may approach Bitcoin in the coming decade. With the state preparing to soon take direct custody of its BTC, the reserve system represents a decisive step toward integrating Bitcoin into public financial strategy - and potentially inspiring other states to follow suit.
