Texas becomes the first U.S. state to officially include 'Bitcoin' as an asset… Strategic Bitcoin Reserve purchases $10 million

The state of Texas has reportedly become the first U.S. state to officially incorporate Bitcoin into its fiscal assets. On the 25th (local time), ETHNews reported that Texas purchased $10 million worth of Bitcoin on November 20 through the newly established 'Strategic Bitcoin Reserve'. The first purchase was reportedly executed through BlackRock's spot Bitcoin ETF IBIT at an average level of about $87,000.

This move follows a related bill approved by the Texas Legislature earlier this year and was pursued with the goals of diversifying state finances over the long term, preserving purchasing power, and promoting digital innovation. Texas has been a leading region in adopting virtual asset (cryptocurrency)-friendly policies, and this Bitcoin inclusion is regarded as a case that formalizes direct investment action at the state level.

The state government conducted the first purchase using an ETF, but plans to switch to a 'self-custody' method of holding Bitcoin directly in the future. Officials said, "ETFs are efficient initially, but the long-term goal is for the state government to build its own custody infrastructure," adding, "We will sequentially put in place the relevant regulations and systems."

Reactions to the decision are mixed. Supporters hail it as a symbolic event recognizing Bitcoin as an institutional asset in the U.S. public sector and interpret it as potentially accelerating institutional adoption if state-level acceptance spreads. Critics, however, raised concerns over high price volatility, arguing that taxpayer funds could be exposed to high-risk assets. Texas reportedly emphasized, "The aim is to preserve long-term value rather than short-term volatility."

Texas's move is expected to influence other U.S. state governments. According to the industry, bills to include Bitcoin in state treasuries are being considered in some states such as Arizona and New Hampshire, and Texas's actual purchase could accelerate related discussions.