Texas Starts Cryptocurrency Reserve with $5 Million Buy

Texas starts cryptocurrency reserve with $5 million buy

Lawmakers created a state Strategic Bitcoin Reserve earlier this year and dedicated $10 million to investing in cryptocurrency. Texas is home to the world’s largest concentration of crypto mines.

Texas Buys $5M in BTC ETF as States Edge Toward First Government Crypto Reserves

The effort is starting small, but Texas made an opening foray into a state-based crypto reserve — getting closer to the first government stockpile in the U.S. What to know: It’s not technically the start of a direct state-based bitcoin reserve, but Texas has picked up $5 million in a bitcoin ETF, which a spokesman said is a placeholder for the first direct state-funds investment. The state is working on its reserve, having put out an informatio…

Texas becomes the first state to buy bitcoin as more states eye cryptocurrencies

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