Texas has become the first state to purchase Bitcoin (BTC) as a hedge against inflation. Lee Bratcher, the chairman of the Texas Blockchain Council, announced that the state purchased $5 million worth of Bitcoin on November 20, 2025.
Notably, the state announced that it has allocated half of the budget for the purchase of Bitcoin to BlackRock’s IBIT. The state bought its BTC shares at an average price of $87,000
Texas is doubling down on Bitcoin
Texas has joined President Donald Trump’s pledge to make the United States the global crypto hub. The state has been implementing a strategic Bitcoin treasury through proper legal channels throughout the year.
Under Governor Greg Abbott, Texas has transformed into a crypto-friendly state that is leading other states peacefully. The state is currently only allowed to invest in Bitcoin because the law stipulates that the average market capitalization over the past 24 months must be more than $500 billion.
Why is the BTC price still falling?
Bitcoin price has seen low bullish momentum as more whale traders remain reluctant to buy the dip. However, CryptoQuant analysts believe that Bitcoin price has already reached a local low and is well positioned to recover in the near future.
CryptoQuant noted that while Bitcoin holders with more than 10k and those with between 100 and 1k in account balance have gathered, the group has distributed investors with between 1k and 10k coins. Until the Bitcoin price consistently closes above $92,000, the near-term outlook is likely to be choppier.
Trust CoinPedia:
CoinPedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict editorial guidelines based on EEAT (Experience, Expertise, Authoritativeness, Trustworthiness). Each article is fact-checked from reputable sources to ensure accuracy, transparency and reliability. Our review policy ensures unbiased evaluations when recommending exchanges, platforms or tools. We aim to provide timely updates on everything crypto and blockchain, from startups to industry majors.
Investment disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making any investment decisions. Neither the writer nor the publication accepts responsibility for your financial choices.
Sponsored and Ads:
Sponsored content and affiliate links may appear on our site. Ads are clearly marked and our editorial content remains completely independent from our advertising partners.