$BTC #BTC
Texas Makes Historic $10M Bitcoin Purchase 🤠
Texas just made crypto history as the first U.S. state to add Bitcoin to its treasury! On November 20, the Lone Star State purchased $10 million worth of BTC through BlackRock's IBIT ETF at around $87,000 per coin as part of their new Strategic Bitcoin Reserve initiative.
Looking at recent price action, BTC has been trading in a consolidation pattern between $86,000-$88,500, with some volatility but maintaining support above $86,000. This suggests the market is digesting Texas' move and potentially preparing for its next direction.
What makes this particularly exciting:
- Texas plans to eventually self-custody their Bitcoin
- The state formally recognized BTC as a strategic reserve asset
- This could inspire other states to follow suit
This groundbreaking move signals growing institutional confidence in Bitcoin and might establish a new trend of public entities adding crypto to their treasuries. The crypto frontier just got a whole lot bigger! ?
The information above is searched and summarized by AI, and does not constitute investment advice.
