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Amin Ayan

Texas Deploys $5 Million into Bitcoin ETF, Reserves $5 Million for Direct Holdings

Texas completed a $5 million purchase of BlackRock's iShares Bitcoin Trust on November 20, with an additional $5 million allocated for direct Bitcoin acquisition. Lee Bratcher of the Texas Blockchain Council confirmed the two-phase approach, stating the ETF position serves as an interim step pending custody infrastructure completion. The $10 million total allocation comes from state general revenue under a framework approved in June that permits digital asset holdings exceeding $500 billion in market capitalization.
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