user-avatar
Kyle Baird

Texas Purchases $5 Million in IBIT for Strategic Bitcoin Reserve Under SB 21

Texas completed a $5 million purchase of BlackRock's IBIT on November 20, marking the first deployment from its Strategic Bitcoin Reserve, according to the Texas Blockchain Council. The reserve operates under the Texas Treasury Safekeeping Trust Company with a $10 million budget authorized by Governor Greg Abbott in June through Senate Bill 21.