As reported by Insidebitcoins, the Texas state government has purchased $5 million of BlackRock’s iShares Bitcoin Trust (IBIT) at an average price of approximately $87,000 per bitcoin. Lee Bratcher, president of the Texas Blockchain Council, announced the purchase on X, noting that Texas is the first state to invest in Bitcoin. An additional $5 million has been allocated for direct Bitcoin purchases.
Texas Buys $5M of BlackRock’s Bitcoin ETF, Plans Another $5M BTC Purchase
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