So… Texas didn’t buy BTC but a promissory note to buy BTC.
Ok.
baIIern on
I don’t trust a cult magazine. Does Texas actually buy shares of a Bitcoin-ETF?
CriticalCobraz on
**Summary:**
The state of Texas has made a historic move by becoming the first U.S. state to purchase Bitcoin for its treasury, establishing a Strategic Bitcoin Reserve following recent legislative approval.
The state acquired $10 million worth of Bitcoin on November 20 through BlackRock’s IBIT spot Bitcoin ETF at an approximate price of $87,000 per coin. This method was chosen to ensure regulatory compliance and ease of access while Texas finalizes its own custody framework.
The state’s long-term intention is to eventually self-custody the Bitcoin, shifting to direct control of its holdings. This pioneering action positions Texas as a leader among U.S. states in digital asset adoption and signals a potential shift in how public entities approach cryptocurrency treasury management.
Livid_Yam on
Texas better up their power grid if they want to fully embrace BTC
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So… Texas didn’t buy BTC but a promissory note to buy BTC.
Ok.
I don’t trust a cult magazine. Does Texas actually buy shares of a Bitcoin-ETF?
**Summary:**
The state of Texas has made a historic move by becoming the first U.S. state to purchase Bitcoin for its treasury, establishing a Strategic Bitcoin Reserve following recent legislative approval.
The state acquired $10 million worth of Bitcoin on November 20 through BlackRock’s IBIT spot Bitcoin ETF at an approximate price of $87,000 per coin. This method was chosen to ensure regulatory compliance and ease of access while Texas finalizes its own custody framework.
The state’s long-term intention is to eventually self-custody the Bitcoin, shifting to direct control of its holdings. This pioneering action positions Texas as a leader among U.S. states in digital asset adoption and signals a potential shift in how public entities approach cryptocurrency treasury management.
Texas better up their power grid if they want to fully embrace BTC