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Steven Walgenbach

Texas Purchases $5 Million in BlackRock IBIT Toward Bitcoin Reserve

Texas acquired $5 million in BlackRock's iShares Bitcoin Trust (IBIT) as an initial step toward establishing the Texas Strategic Bitcoin Reserve. The purchase follows legislation passed earlier this year allocating $10 million for bitcoin accumulation. Texas aims to become the first U.S. state to operate a legislatively funded strategic bitcoin reserve under direct state management.
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