Texas becomes the first state to buy bitcoin as more states eye cryptocurrencies
Texas recently became the first state to make a major investment in cryptocurrency with the purchase of about $5 million worth of bitcoin.
The state comptroller’s office, which manages financial transactions and long-term investments, confirmed the transaction to The Dallas Morning News. The purchase followed bipartisan legislation that passed this year creating a state cryptocurrency investment fund.
Similar legislation has been approved in several red and blue states, according to tracking from the National Conference of State Legislatures. This year, at least 40 states saw legislation proposed regarding cryptocurrency, digital currencies and other digital assets.
While other states, including Michigan and Wisconsin, have made pension fund investments in cryptocurrency, Texas became the first to invest state dollars, according to The Dallas Morning News.
“The industry is maturing and growing — it’ll continue to become more mainstream, and I think Texas staking out a leadership position will be very beneficial to Texans over time, similar to what the oil and gas industry has done over the last century,” Lee Bratcher, president of the Texas Blockchain Council that championed the legislation, told the Dallas newspaper. In a social media post, Bratcher said the transaction occurred late last month.
https://stateline.org/2025/12/04/texas-becomes-the-first-state-to-buy-bitcoin-as-more-states-eye-cryptocurrencies/
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