Bitcoin Updates: Texas Bitcoin Holdings Indicate Growing Institutional Adoption as States Welcome Digital Assets
- Texas becomes first U.S. state to allocate $10M for a strategic Bitcoin reserve, initially investing $5M in BlackRock’s IBIT ETF as a temporary measure. - The state plans a second $5M direct Bitcoin purchase once custodial infrastructure is finalized, aligning with broader efforts to recognize Bitcoin as a long-term asset class. - Institutional adoption grows as Harvard and Abu Dhabi’s Al Warda also invest in IBIT, while BlackRock’s ETF sees a 10% year-to-date decline amid market volatility. - Experts hi
Texas has become the first state in the U.S. to dedicate public resources to a strategic
This initiative is part of a broader legislative push to recognize Bitcoin as a long-term asset for state reserves. Texas law stipulates that reserve assets must have a market cap of more than $500 billion, a criterion that Bitcoin currently satisfies but which
Texas’s decision highlights the increasing institutional interest in Bitcoin. In addition to state-level investments, Harvard University and Abu Dhabi’s Al Warda Investments have also acquired IBIT shares, with
Analysts emphasize the symbolic importance of Texas’s initiative.
Looking forward, Texas legislators have expressed willingness to broaden the reserve beyond Bitcoin. State Senator Charles Schwertner mentioned that
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