๐ฐ๐บ๐ธ JUST IN: Texas Launches Strategic Bitcoin Reserve! ๐
The Lone Star State just fired a massive shot heard around the financial world! Texas has officially become the first U.S. state to dedicate public funds to a Strategic Bitcoin Reserve, allocating $10 Million to the new treasury fund.
The initial purchase of $5 Million was executed on November 20th at an approximate price of $87,000 per BTC, taking advantage of the recent dip!
Hereโs what you need to know:
* Initial Entry: The first $5M tranche was acquired via BlackRock's IBIT ETF as an interim measure.
* The Ultimate Plan: Texas officials confirm the goal is to move the full holdings into state-controlled, self-custodied Bitcoin once the custodial infrastructure is finalized.
* Digital Gold Status: This move solidifies Bitcoinโs status as a recognized strategic reserve asset, placing it alongside gold and fiat in a state treasury.
* Paving the Way: The legislation passed earlier this year (signed by Gov. Abbott) makes Texas a pioneer, and analysts expect this to accelerate similar moves by other U.S. states and institutions.
This isn't just a small investment; it's a massive symbolic and legal endorsement of Bitcoin by the second-largest state economy in the US!
Question: Did Texas nail the entry price at $87k? ๐
#Bitcoin #BTC #Texas #InstitutionalAdoption #StrategicReserve #DigitalGold #Write2Earn #WriteToEarnUpgrade #WriteToEarn #BinanceAlphaAlert
