Texas expands Bitcoin acquisitions for strategic reserve

Texas is pushing deeper into Bitcoin territory. The state, which became the first in the US to create a publicly funded Bitcoin reserve, is now expanding its approach with a newly formed advisory committee designed to guide additional acquisitions of Bitcoin and other digital assets.

How Texas got here

The foundation for all of this was Senate Bill 21, signed into law by Governor Greg Abbott on June 20, 2025. That legislation established the Texas Strategic Bitcoin Reserve, managed by the Texas Comptroller of Public Accounts, and backed by a $10 million initial appropriation from the state budget.

On November 20, 2025, the state executed its first allocation, putting roughly $5 million into BlackRock’s iShares Bitcoin Trust (IBIT) ETF. Bitcoin was trading between $87,000 and $91,000 per token at the time of that purchase.

Texas used the IBIT investment as a placeholder while it worked on establishing direct custody frameworks. Under the legislation, the reserve can grow through direct purchases, donations, forks, and airdrops.

Acting Comptroller Kelly Hancock announced the formation of a five-member advisory committee on May 28, 2026, to guide investments in Bitcoin and other digital assets.

Why Texas stands alone, for now

Texas remains the only US state that has used taxpayer dollars to back Bitcoin investments. Arizona and New Hampshire have both proposed legislation aimed at creating their own Bitcoin reserves, but neither has actually put public money behind the idea.

What this means for investors

The advisory committee’s scope extends beyond Bitcoin to cover other digital assets, meaning Texas could eventually diversify its crypto holdings. Texas bought its initial IBIT position when Bitcoin was in the $87,000 to $91,000 range, so the performance of that specific entry point will be closely watched as a benchmark for whether public Bitcoin reserves make fiscal sense.

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